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Mettis Global News
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Auto industry to raise prices again following rupee depreciation

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October 10, 2018 (MLN): Following the collapse of rupee value against dollar by around PKR 9.37 per USD at the interbank market, it is anticipated that the Auto sector may increase the prices to combat the creeping weaker demand.

It is no surprise that the fall in rupee is bound to affect many industries in Pakistan, Auto Sector being the first and foremost of them as it faces fears of drop in sales volumes following the rupee depreciation.

Furthermore, the plodding increase in interest rate to 8.5% is already affecting the auto financing industry, tempting the local manufacturers to hike the car prices.

Ban on purchase of new vehicles by non-filers of tax returns as a part of the new mini finance budget, has been the cherry on top as it has brought down car bookings by 30%.

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Posted on: 2018-10-10T11:57:00+05:00

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