As per our Market Check, Morris Garage (MG) Motors Pakistan has increased the price of its HS variant by Rs.300,000, leading to retail price of Rs 5,749,000. MG Motors has re-opened the booking of HS SUV, though with price hike.
MG Motors had previously suspended the booking process before the FBR allege it of under invoicing. Now that FBR has concluded investigations, MG Motors has not only resumed the booking process, but has also increased prices by 5%.
The increase also occurred at a time when MG Motors Pakistan introduced the first locally assembled vehicle. The company has not yet published a clarification as to whether the changed prices will also apply to locally manufactured units, as currently only imported models are on sale at dealerships.
It is widely believed that MG Motors has increased the price by Rs 300,000 due to an increase in import duties by FBR. It is also expected that MG Motors may further increase the prices later this year due to recurring problems with international trade and global shortages.
With the price hike, MG HS SUV is no more cheapest SUV in Pakistan and is overtaken by Haval SUVs.
The price hike has created confusion among the consumers as to whether the price hike will be applicable to already booked orders or the new order going onwards. The Order book of MG Motors suggest that it has roughly Rs.2billion worth of orders on hand for MG HS model, while deliveries are being delayed due to logistical issues.
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