Here is another piece of good news for those who were anxiously waiting for a price-cut series that hadn’t materialized in past years. After Kia Lucky Motors, Peugeot Pakistan, and Pakistan Suzuki, Changan also reduced the price of its prominent crossover SUV, ‘Oshan X7,’ but for a limited period, starting from May 4 till June 15, 2024.
Earlier in Oct 2023, Changan Pakistan dropped the price of its car by Rs. 250,000. It is pertinent to mention its fourth price drop announced within a week – another major development amid the ongoing sudden price-down series.
New Prices of Oshan X7
- Changan Oshan X7 Comfort variant will now cost Rs. 7,999,000 against the old price of Rs. 8,299,000. The price has been reduced by Rs. 300,000.
- The price of Oshan X7 FutureSense has also decreased by Rs. 400,000, taking the car’s price to Rs. 8,549,000 from the old price of Rs. 8,949,000.
Massive Price Drop
In the past few days, there has been a significant decline in car prices, with Kia initiating a reduction of over Rs. 15 lacs for Stonic, followed by Peugeot 2008’s reduction of Rs. 4.5 lacs, and Suzuki Swift with a decrease of Rs. 7.1, marking an intriguing turn of events.
Price cuts of this magnitude are rare in Pakistan, occurring only occasionally, prompting the question: what has prompted these adjustments in vehicle prices by car manufacturers? Let’s delve deeper. Noted economist Ali Khizer is on hand to shed light on this emerging trend.
The Reason
Stonic sees a 24% drop, Swift by 13%, Yaris by 1.3 CVT, and City CVT by 3%. New rates range from Rs. 4.69M to Rs. 4.77M, notably down from Rs. 4.83M to Rs. 6.28M pre-revision.
This substantial adjustment aligns with a strategy to keep prices below Rs. 4M without GST, driven by the hefty 25% GST on cars. Kia led by slashing Stonic’s price, aiming for the sub-Rs. 4M bracket sans GST, a move echoed by Suzuki with Swift’s new pricing. Ultimately, companies navigate to avoid the new GST slab, which inadvertently benefits consumers.
What do you think about the recent move regarding the Oshan X7 price? Tell us in the comments section.
Despite this price reduction, Kia Sorento remains a better option with a starting price of 9 000 000 PKR, Sorento is a premium SUV come with bigger engine 2.4L 4cylinders engine, greater comfort and reliability and Sorento is 4m80 long car against 4m70 for this oshan x7, the price gap is small.
PKR is stable. We will see more price drops.
@Usman
Yes that’s what i’ve seen but not a single mention in any articles.
Price drop should affect all brands and models sooner or later