Among the reasons for the price increase, the company cited a significant and unprecedented devaluation of the Pakistani rupee, skyrocketing inflation, and the current economic conditions. In addition to the new prices, freight and insurance charges, CVT, and Advance Income Tax are not included.
The company stated that customers who had completed their payments by January 27, 2023, would receive their orders at the previous price, while those who placed orders after January 28, 2023, would be subject to the new prices. Limited stock and orders with complete payments submitted by February 28, 2023 will be subject to the revised prices. Any government tax applicable at the time of delivery is the responsibility of the customer, and the prevailing prices will apply at the time of delivery.
New Prices of Tiggo 4 & 8 Pro
The Tiggo 4 Pro has seen a price increase of Rs. 600,000, taking the new price to Rs. 6,099,000 from the previous Rs. 5,499,000. Meanwhile, the Tiggo 8 Pro has seen a massive jump of Rs. 1,100,000, with the new price set at Rs. 9,299,000 from Rs. 8,199,000. This is the second price increase by the company, with the first one taking place in September 2022.
Chery Pakistan launched the Tiggo 4 Pro and Tiggo 8 Pro during a digital launch in March 2022. The former joins the 5-seater crossover club and competes with KIA Stonic, MG ZS, and Peugeot 2008, while the latter joins the 7-seater crossover club and goes head-to-head with the Changan Oshan X7 Comfort, DFSK Glory 580 Pro, Kia Sorento, and Toyota Fortuner.
As a result of significant devaluation of the Pakistani rupee against the US dollar, the ban on imports, and the non-issuance of Letters of Credit (LCs), the automotive industry in Pakistan has experienced a surge in prices. The uncertain and unstable conditions have forced companies to halt production and bookings, making it difficult for the industry to return to normal.
The industry has repeatedly called upon the government and State Bank of Pakistan (SBP) to stabilize the foreign exchange rate and open the LCs. In spite of this, the future remains uncertain for the automotive industry, and vehicle prices continue to rise rapidly.
