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Does Car market really crash in Pakistan ?

Recently, Toyota, Honda, Kia, and Suzuki have decreased prices of some of their cars. The biggest decrease is in Kia Stonic (by 24%) followed by Suzuki Swift GLX CVT (by 13%) and then Toyota Yaris 1.3 CVT (by 3%) and Honda City CVT (by 3%). 

There is a reason for new prices of all four cars being almost the same i.e. to remain below the Ex-GST price of Rs4 mn. During March 2023 -GST for 1400 cc plus cars (and on all SUVs) was increased from 18% to 25% for 1400 cc plus - All these cars (but Stonic) had remained unaffected, as these were below 1400Cc and none falls in SUV category. 

 Kia Stonic (being in the same category in the eyes of consumers) were cornered by this move. March 2024- After one year, the regulation is changed to cap 25% GST on Ex-GST price of Rs4 mn and the anomaly of having all SUVs is omitted. Seeing this, #Toyota and #Honda marginally reduced their top #variants in 1.3 and 1.2 categories to ensure Ex-GST price remains below Rs4 million. 

 Later, #Kia took this bold decision of significantly slashing the price for #Stonic to be in this limit. Seeing, this #Suzuki did the same for #Swift top variant.
 

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