Prices of used cars expected to increase in next budget

The 2024-25 budget is likely to introduce notable changes in the pricing of used vehicles in Pakistan due to a proposed increase in regulatory duties.

Sources suggest a 30% hike in regulatory duty on vehicles over 1800cc, which may result in increased costs for imported used cars.

According to reports, there is a proposal to raise the regulatory duty on older vehicles, potentially leading to an increase in their prices.

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The proposed changes are likely to impact imported used vehicles with engine capacities above 1800cc the most, as the regulatory duty could rise from 70% to 100%. Furthermore, there is a consideration to introduce a 15% duty on used vehicles with engine sizes up to 1800cc.

On the bright side, buyers of both new and used hybrid vehicles with engine capacities up to 1800cc may continue to benefit from zero duty, according to suggestions.