The Regulatory Duty (RD) on Electric Vehicles (EVs) was removed after SRO1571(I)/2022 expired on November 21, 2022. Audi e-tron costs have now dropped significantly. According to a company notification, these are the new ex-showroom costs for the Audi e-tron and e-tron GT.
New Prices of Audi e-tron
• The new pricing of the e-tron 50 is Rs. 22,300,000, as opposed to Rs. 32,450,000. It signifies that the car has dropped by Rs. 10,150,000.
• The e-tron SB pricing has been reduced by Rs. 11,300,000 and will now cost Rs. 24,850,000 as opposed to Rs. 36,150,000 previously.
• Furthermore, the e-tron GT has been reduced in price from Rs. 48,325,000 to Rs. 34,500,000. This means that the car’s price has dropped by Rs. 13,825,000.
• Finally, the company has announced a Rs. 19,500,000 price reduction for the RS e-tron GT. The car will now cost Rs. 48,500,000 as opposed to Rs. 68,000,000 previously.
These are new ex-showroom booking prices, according to Audi Pakistan, and will apply to new bookings. Meanwhile, the vehicles on display in its showrooms will be sold at their original pricing, albeit the company is offering some reductions on them.
It is worth noting that the FBR increased the Regulatory Duty (RD) from 0% to 100%. According to the FBR statement, the increase in regulatory duty imposed on electric vehicles “will take effect on and from the 22nd day of August, 2022 until the 21st day of November, 2022.” And it appears that the government has decided not to renew this SRO, resulting in the decline in these car prices.
A Strange Decision?
On the one hand, the State Bank of Pakistan (SBP) is refusing to issue Letters of Credit (LCs) to local automakers for CKD kits due to a lack of US currency. However, when RD is abolished, the prices of these imported cars have decreased. The question is whether it will not put pressure on the currency exchange as the dollar leaves the country, or whether it will have an impact on it. What are your thoughts? Please leave your feedback in the comments area.