Recently Pakistan, among other countries, has reported soaring prices of automobiles rooting from the increased prices of raw materials. The latest increase in steel, cold-rolled coil (CRC), price per kilogram jumped Rs93 to around Rs240, periodically, during January 2020 to July 2021, he said. Some companies have ceased exporting to certain countries, while others are seeking commodities or raw materials in closer areas. “The auto companies will have to increase car prices in the next few months,” said AHL analyst Arsalan Hanif. Circling back to the point made earlier, price of steel, as well as freight, has started impacting the automobile industry.

Source: The Express Tribune August 08, 2021 05:36 UTC