In the recent price hike wave in the auto industry Regal Automobiles does not want to be get behind the line as the company has raised the costs of its Prince Pearl hatchback. The increased pricing for 800cc will take effect on May 9, 2022, according to a notice.
New Price of Prince Pearl
The manufacturer stated that the new price of Prince Pearl is Rs. 1,586,000, up from Rs. 1,534,000 previously, a difference of Rs. 52,000. Additionally, the car’s down payment is Rs. 500,000.
Regal Automobiles further said that prices are subject to change without notice and that the pricing in effect at the time of delivery will apply. The company also said that “all government taxes and levies applicable at the time of delivery shall be borne by the clients.”
Read more: Regal Automobiles getting ready to launch automatic variant of Prince Pearl
Regal’s Legal Reason
The reasons for these continuous price hikes are easy to understand given the current situation. The Pakistani rupee is constantly depreciating against the dollar, followed by skyrocketing raw material prices and, finally, record-high shipping expenses. All of this has resulted in price increases in Pakistan, and we don’t anticipate any relief for consumers in the foreseeable future.
And the general public is the one that suffers the most as a result of all of these price increases. Despite promises from both the former and current governments to combat these hikes, it appears that the issue will not be rectified.
Meanwhile, the government decided in April 2022 to appoint a private company to perform a forensic investigation of the prices to see whether the rising dollar rate and raw material costs support the escalating car prices. The Pakistan Automotive Manufacturers Association (PAMA), on the other hand, was not pleased.
According to PAMA Director-General Abdul Waheed Khan said that Pakistan has a free market and a market system. Because Pakistan does not have a communist-style centrally planned economy, the government cannot set automobile prices.
