Treasure Magazine

Treasure Magazine

Honda Atlas and IMC (Toyota) announces new prices of vehicles

2 min read
Honda

KARACHI: After reducing Federal Excise Duty (FED), Sales Tax and ACD from July 1, 2021, the Honda Atlas Car and Indus Motor Company (Toyota) have also announced new price list of their vehicles.

According to the new price list, Honda Atlas announced to reduce Rs 105,000 on Honda BRV 1.5 CVT S to Rs 3.374 million from the current price of Rs 3.479 million. Similarly, Honda 2SV 1.8L CVT Oriel price was cut by Rs 115,000 to Rs 3.614 million from Rs 3.729 million. The new price of Honda @SV 1.8LCVT Oriel would be Rs 3.864 million after a reduction of Rs 115,000 while 2SV 1.5L Turbo CVT would be available at Rs 4.564 million after a reduction of Rs 135,000 from Rs 4.699 million.

Indus Motor Company (Toyota)

Indus Motor Company has reduced the prices of Rs 50,000 for Tax Filers and Rs 100,000 for Non-Tax Filers on all brands of Toyota Yaris (1300cc to 1500cc), while it cut the price of Toyota Corolla Altis (1600cc) car by Rs 50,000 for Tax Filers and Rs 100,000 for Non Tax Filers.

The price of IMC would be implemented from July 8, 2021.

The IMC also reduced the prices of Corolla Altis 1800cc by Rs 75,000 for filers and Rs 150,000 for Non-filers.

The company has reduced the prices of Toyota Hilux (2400cc) Rs 150,000 for Filers and Rs 300,000 for Non-Filers. Similarly the company cut the prices of Toyota Hilux (2800 cc) Rs 200,000 for Filers and Rs 400,000 for non-filers.

The company had reduced the prices of Toyota Fortuners (2700 cc) upto Rs 200,000 for filers and Rs 400,000 for Non-Filers. Meanwhile new price of Toyota Fortuner 4×4 Diesel would be Rs 9.278 million after reduction of Rs 200,000 for filers and Rs 400,000 for Non-filers.

“The auto manufacturers would be bound to deliver vehicles to their customers in 60-day and if it delays the delivery of vehicles would be charged with penalty up to Rs 50,000 to Rs 200,000 and would have to payback KIBOR plus 3% to customers on total deposit amount,” the minister claimed.

The government had cut FED on all vehicles up to 3,000cc by 2.5pc while on vehicles from 660cc to 1,000cc the FED had been abolished. The GST had been cut to 12.5pc from 17pc for cars up to 1,000cc.

For 1,001cc to 2,000cc vehicles, the FED was decreased to 2.5pc from 5pc and for 2,001cc to 5pc from 7.5pc.

The government has also cut ACDs on all vehicles from 7 to 2pc and its notification has been issued on June 30, 2021.