Big Discount for Cars with Complete List of Highlights & New Auto Policy 2021
The complete list of discounts for cars and the new auto policy 2021 has been announced. There was a great deal of discussion on car price rates in the last budgets of Pakistan. There were important announcements related to the price rate of auto cars by enthusiasts, car buyers,s and analysts of Pakistan. The Government of Pakistan announced some relief for the auto car price rate for the buyers. There are significant decreases in the price of cars this year in the budgets of Pakistan.
As per Automotive Development Policy (ADP) 2016-21, there are some incentives that are provided to the car companies. There are several latest and intriguing cars models in the car market this year for the buyers. There is an atmosphere of competition in every walk of life. There is also competition in the cars auto industry.
Here are some technicalities related to the cars for buyers. It is directed to all of you to read the description before buying a car from the market.
- The latest entrants are sedans
- The new models are a compact crossover
- SUVs quality
- Price rate approx 2.00 million each
- Highly ranked products are fall in 3.50 million
- Some of them are out of the reach of local and common buyers
Because of this high price rate, the Government of Pakistan makes some feasible changes to give some relief to the local car buyers. The discount has been made for smaller cars up to 1000cc and below for the users. There is a special package for EV (Electric Vehicles) under the new auto policy 2021.
Contents of Article:
- Special Concessions
- Big Discounts for Cars
- All cars Special Concessions
- 660cc to 1000cc vehicles Segment
- Electrical Vehicles Segment
- Some Other Concessions
- The Way Forward Segment
- More Detail & Keywords for Easy Access
The basic aim to give special discount packages on Electric Vehicles is to enhance the use of environment-friendly auto vehicles.
Here is a list of concessions for all auto cars by the Government of Pakistan. The decision is safe in the Automotive Development Policy of Pakistan.
All cars Special Concessions
There is a reduction in the CKD kits of all the vehicles to minimize the cost value for the manufacturer. In this regard, the Govt of Pakistan decreases from 7% to 2% ACD (Additional Custom Duty). There is also an important announcement has been made by Govt to decreases FED up to 2.50 %.
- 0 to 2.0% reduction for 660cc to 1000cc vehicles
- 5 to 5.0% reduction for 1001cc to 2000cc vehicles
- 0 to 7.50% reduction for 2001cc to 3500cc vehicles
660cc to 1000cc vehicles Segment
The GST has been reduced for 660cc to 1000cc vehicles as per the decision of the Government of Pakistan. Here are some highlights of these modifications in price rate and tax etc
- The reduction rate is from 117.00% to 12.50 % for 660cc to 1000cc vehicles. This is especially for local manufacturers and locally assembled auto cars up to 1000cc. This is from the end of the general sales tax department of Pakistan.
- There is also a reduction in FED (Federal Exide Duty) this year for all. It was 2.50 previously which are reduced from 2.50 to almost 0 for the manufacturing up to 1000cc.
- CKD kits are free from VAT (Value Added Tax) as per the description of policy 2021.
- It is important to mention here that the Government has made an announcement that the CBU (Completely Built-up Units) are exempted from the customs tax up to 1000cc.
- This is not the part of long-term policy for CBU. But it will be part of LTP in the next year.
Electrical Vehicles Segment
There are important decisions have been made for EV in Pakistan. Some of them are listed below to make the idea clear about EVs in Pakistan.
- 17% to 1% reduction for EV with 50 kW battery power
- FED is the same as per the current budget
- VAT on CKD kits has been abolished by the Govt of Pakistan
- 1% tax for EV manufacturers
- Charging equipment will cost 1%
- The tax for 2-3 EVs has been abolished
The relief for HEV & PHEV is given below
- CBU vehicles up to 1800cc will cost 8.50 % GST
- CBU vehicles up to 1801cc to 2500cc will cost 12.75% GST
- 3% CD on CDK HEV
- 4% CD on CDK PHEV
- 2-3 wheels EV have same price rate up to 30-06-2025
- The concession for 4 wheels EV (50kW) & CH (150kW) will remain the same up to 30-06-2025
Some Other Concessions
- The Punjab Govt has announced a reduction in tax up to 5% on MV (Motor Vehicles) under PMVTA
- 10% rebate
- The registration fee will be 1 Rs in KPK for 2500cc
- As per the said of Provincial Finance Minister there will be no re-registration fee vehicles
- There is a suggestion of a reduction in mark up for small cars up to 5-6%
The Way Forward Segment
These highlights have revealed that there will be an outcome of EV and local small cars in the future as per the reduction of the taxes and some other reliefs. The AIDEC & EV policy is just away from the release by the Government of Pakistan for the users. The basic aim is to appreciate the use of EVs and other environment-friendly vehicles.
The Government of Pakistan seems to be supported to local manufacturers and assemblers to appreciate the local development in the country. These measures are made by the Government of Pakistan to increase the local output and enhance the opportunities of jobs for more people within the country. There are many segments that are needed to be improved but working is going on for betterment in almost all departments.
More Detail & Keywords for Easy Access
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