ISLAMABAD/KARACHI: While the depreciating local currency and tax hikes have forced several automakers including Kia, Peugeot, Toyota and Haval to increase prices, MG Motors Pakistan has decided not to increase the price of HS Essence, for now.
This is despite the fact that, like other automakers, HS Essence is also facing the 7 per cent general sales tax levy.
Bold Yet Smart Tactic
While the demand for sports utility vehicle SUV had been on the rise in Pakistan in the previous few years, the demand has recently plummeted due to the price necessitated by the increased tax rate.
For now, the MG company has played a master stroke by not raising the prices of its star SUV, which is likely to attract buyers in droves. The current price of MG HS Essence is almost Rs8.2 million compared to its competitors, which have jacked up prices after the GST hike.
While MG motors did not mention how long it will keep the price unchanged, it is likely that the current price offer will expire next month. However, it is an excellent opportunity for MG lovers to book the HS and an even better opportunity for MG to enhance its market share.
