MG increases price of HS ESSENCE by Rs.1.3mn

February 16, 2023 (MLN): MG JW Automobile Pakistan Limited has increased the price of MG HS Essence, the locally assembled variant of the crossover SUV by Rs1.3 million, a notification issued by the company showed.

“In these challenging times despite extensive currency devaluation, MG has not changed MG HS Essence price since its launch in 2022,” the notification read.

However, the price increase is now inevitable due to the imposition of an 18% sales tax in addition to the forex impact.

The buyers with a delivery date of February /March 2023 will pay an extra amount of Rs100,000, and the new price is Rs6.99mn. These vehicles have been invoiced from February 14, 2023, onwards.

On the other hand, the prices of all new orders with a delivery date of April 2023 witnessed a jump of Rs1.3mn to reach at Rs8.19mn.

The new prices have been applied to all orders from February 15, 2023.

It is pertinent to note that the prices are Ex-Factory, per unit inclusive of all applicable duties and taxes.

Any impact on prices due to changes in foreign exchange, government levies (including FED), tariffs, fiscal policies, import policies, etc., will be on account of customers.

Prices at the time of delivery will be finalized where applicable.

The prices are exclusive of WHT, transportation, transit insurance charges, etc.

For the booking of April delivery partial payment will be at 20% of the New MSRP i.e., Rs1.64mn.

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