Unprecedented hike in car prices

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Unprecedented hike in car prices

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Car prices registered record hike during last three years.

05 November,2011 12:56 pm

According to All Pakistan Motor Dealers Association, Suzuki, Honda and Toyota have increased their vehicles prices by 78 percent, 98 percent and 88 percent respectively.It is pertinent to mention here that the federal government had reduced Special Excise Duty by 2.5 percent and Sales Tax by one percent in budget 2011-12. But the manufacturing companies did not reduce the prices.The experts said that the government should take steps to reduce the car prices by ending the manufacturers’ monopoly. “If the government allows vehicles import from India, its prices will reduce”, the experts added.