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LAHORE: Audi Pakistan has revised the prices of its entire e-Tron package down after the increase in legal obligations imposed on it by the Government in August which will be effective on November 21, 2021. The new prices are as follows:
However, can you buy the e-tron at the aforementioned rates? First, yes but it’s a lot harder than it looks. Also, why is the legal responsibility reduced to begin with when the city is discussing the default and foreign exchange crisis?
Discussing activities
On August 22, the Federal Bureau of Revenue (FBR) issued the Regulatory Order (SRO) 1571(I)/2022. This was a blanket increase that saw the unification of regulatory responsibilities across all imported vehicles and 100%. The decision came after Miftah Ismail’s press conference in Islamabad, “Now, the choice is easy; we will use that money to buy cars or grain. We will buy mobile phones, or grain or household appliances, microwaves and air conditioners as an alternative to cooking oil.
The devil is in the news and the important information about the aforementioned SRO is the legal responsibility for electric vehicles that was limited to the time until November 21. Later, in the absence of payment, the statutory duty on electric vehicles will return to its pre-August rate of 10%. Audi Pakistan was bound by law to revise the prices down or to inform the customers that the prices are not legally responsible if they remain as before. Audi chose the latter.
So can you buy e-tron at these new rates? Maybe
Delivery schedules and economic forecasts
All buyers can go ahead and book the Audi e-tron. However, The result Checked with their local agents and found that the waiting times are currently five to six months depending on the type of book you book.
Also, in a conversation with Arshad Raza, CEO of Premier Motors the parent of Audi in Pakistan, The result It was revealed that the company is still processing orders and may approach the State Bank of Pakistan 20 days to a month from now to request access to a letter of credit to bring the vehicle. This is the problem, the State Bank of Pakistan is allocating foreign reserves to all importers. Later, the companies’ letters of credit were less than the amount they were applying for.
This forces Audi Pakistan to take very small orders or have longer waiting times. What are the consequences of this? The current economic situation of Pakistan is not very good to say the least. In particular the motorcycle sector has been caught in the face of the storm in terms of public anger and the policies of the regulators. Therefore, it is possible that if the situation does not improve then we will see an increase in legal actions after the buyers make demands on their vehicles. This way they pay the difference.
Buyers who want to avoid the waiting period by opting for the aftermarket will find that all e-tron models are still selling for prices above the aforementioned rates.
Will legal responsibility return? The result The FBR was approached and it was found that at present there is no plan to cancel their deregistration. The result The FBR also revealed that it will analyze import data from the past few months to measure the demand for electric vehicles, their revenue, and their impact on foreign exchange reserves to determine the future decisions about legal responsibility. Findings, depending on the time period, may be biased.
Electric vehicle data, for this year at least, may show disappointing figures because they are subject to import bans first and then increased regulatory burdens. Real demand forecasts are based on future expectations and demand that the country will see in the coming months. However, these imports come at a time when the country is low on foreign exchange. How the Government handles this position is anyone’s guess.
Finally, the decrease in illegal activities will have a lot on its back because electric mobility is similar to e-tron in Pakistan. “Most of the customers are ordinary people who finance their purchases from the bank.” Raza said The result when asked if the e-tron is limited to only the upper income classes in Pakistan. However, while Raza may sway critics of a different opinion, the local automotive industry may be on the upswing.
Since the non-production days are every day, local producers may see this reduction in the regulatory burden that the Government will have to bear against them compared to the import quotas that were imposed. upon them.
Has anyone actually benefited from the reduced legal liability at that time? The result received information about some of the people who may have them.
Marketing chat
The result received information from Audi that four to six e-trons have been cleared in the port with Pakistan Customs between November 21 and now. These e-trons would have been subject to the old rates if they had been abolished earlier, however, because of the time they were able to benefit from the reduction in statutory taxes now in place.
When The result Raza was asked about this issue and he replied that the “invalid” e-trons had been eliminated during the aforementioned period. If the minority did not benefit from the reduction, then would anyone still benefit? Can’t tell. However, we can say that the future of imported vehicles will be more electric.
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