Regal Automobiles has raised the price of Prince Pearl, making it the fourth carmaker to do so in a recent string of pricing increases. The firm, like other manufacturers, claimed raw material pricing increases, increased freight costs, and local currency devaluation as reasons for price increases.
The new pricing is as follows, and it is effective immediately:
|Old Price (PKR)||1,534,000|
|Revised Price (PKR)||1,586,000|
|Booking Amount (PKR)||500,000|
|Delivery Time (Days)||45 t0 60|
Prince Pearl has recently been a familiar sight on Pakistani highways. It was introduced in 2019 as a rival to Suzuki Alto. Due to the COVID19-induced lockout, its sales initially remained poor. However, the hatchback has recently gained favor.
The vehicle industry is set to heat up because of the coming clash between manufacturers and the Engineering Development Board (EDB). Earlier this month, the latter issued a warning to all automakers about frequent price increases.
EDB also summoned the separate chiefs of all automobile firms, including Regal Automobiles, to a meeting to enquire about and propose a path forward to reduce price spikes.