MG Price Increase- New Price and Reasons Revealed

MG Car Prices Increased

We have bad news for those who are thinking about buying a new car or want to change their old car with the latest car model. Numerous carmakers have declared openly to increase the prices of cars. Similarly,  the customers are going to encounter an MG price increase for all vehicles According to a contemporary report by carspiritpk.com, MG(Morris Garages) Pakistan is the latest to do so for its most demanded vehicle, MG HS SUV. Like others, MG has also declared openly a three-part price expedition whereby:

• Those who made full payments for November and December 2021 deliveries will have to pay an additional Rs. 200,000.
• Those who made partial payments for deliveries in the same period as above will have to pay Rs. 500,000 more.
• Those who made partial payments for deliveries in January 2022 or placed new orders will have to pay a whopping Rs. 850,000 more.

Although the company is yet to officially confirm the price expedition for its other vehicles. The recent report indicates that the price of MG ZS has also prevailed by Rs. 306,000 giving rise up to Rs. 4.44 million.

Reasons for MG Price Increase

Like other automakers, the company cited depreciation of PKR against the US Dollars, the boost in the baggage charges, expense of shipment due to high petrol prices, and high semiconductor chip cost to a global shortage as incentives for the MG price increase. 

And the organization has already set up a local cabinet plant in Lahore. Also it has barely bought Completely Built-Up (CBU) units of HS. There is presently no news about when the company will begin developing cars locally. 

The government is putting in thought about increasing the excise duties and customs on vehicles. It will curtail the growing import bill as well as the current account deficit. MG’s transition from CBU units to locally assembled units will greatly affect the rights of the company and the customers in Pakistan. Because the model will be available at an affordable price so the sales will increase. Whereas, increasing customs and taxes may cause a drastic fall in the sales of CBU units.