Category: Automotive

PkRevenue provides stories related to automotive industry. We focus on auto policy of Pakistan. The coverage also includes sales of domestic manufacturing.

Price, specifications of Suzuki GSX 125

Suzuki GSX 125 is launched with the official price of Rs359,000. The company launched the motorcycle with the official red, black and blue color.

According to the company, the bike can be booked in the nearest Suzuki dealership with the choice of selecting colors.

The motorcycle is launched with powerful and fuel efficient 125cc Engine, equipped with SEP (Suzuki Eco Performance) Technology. The Efficiency and Power Goes Hand-in-Hand.

Suzuki GSX125 is crafted with sporty curves, diamond-shaped halogen headlamp, vibrant & strong shocks, 2-POD calliper hand-bars, alloy rims with disc brakes and shimmering muffler.

READ MORE: Pak Suzuki Motors posts hefty loss of Rs2.5 billion in third quarter

The features of the bike include 125cc single cylinder, 4 stroke air cooled engine. 7.8kw/9000 rpm max power. 9.2Nm torque at 7000 rpm. The bike has the option of Self Start. There are 5-speed constant mesh transmission.

The height of the seat of bike is 770mm with kerb mass of 126 kilograms and a fuel tank with huge capacity of 14.2 liters.

The bike has wheels with overall length of 1990mm, width of 755mm, height of 1075mm, wheel base of 1270mm and ground clearance of 167mm.

The bike has 2.75-18 tubeless front tyre and 90/90-18 tubeless rear tyre. Hydraulic disc front brake and internal expanding drum rear brake. The bike also has a spring hydraulic damping front suspension and spring hydraulic damping rear suspension.

READ MORE: Suzuki Pakistan announces plant shutdown on inventory shortage

October 29, 2022
Suzuki launches GSX 125 motorcycle in Pakistan.

Suzuki Pakistan launched the GSX 125 motorcycle in Pakistan which was already displayed in the Pakistan Auto Show 2022 by the company.

Suzuki GSX125 is crafted with sporty curves, diamond-shaped halogen headlamp, vibrant & strong shocks, 2-POD calliper hand-bars, alloy rims with disc brakes and shimmering muffler.

The motorcycle is launched with powerful and fuel efficient 125cc Engine, equipped with SEP (Suzuki Eco Performance) Technology. The Efficiency and Power Goes Hand-in-Hand.

READ MORE: Pak Suzuki Motors posts hefty loss of Rs2.5 billion in third quarter

The company launched the motorcycle with the official colors of red, black and blue.

The features of the bike include 125cc single cylinder, 4 stroke air cooled engine. 7.8kw/9000 rpm max power. 9.2Nm torque at 7000 rpm. The bike has the option of Self Start. There are 5-speed constant mesh transmission.

The bike has 2.75-18 tubeless front tyre and 90/90-18 tubeless rear tyre. Hydraulic disc front brake and internal expanding drum rear brake. The bike also has a spring hydraulic damping front suspension and spring hydraulic damping rear suspension.

The bike has wheels with overall length of 1990mm, width of 755mm, height of 1075mm, wheel base of 1270mm and ground clearance of 167mm.

The height of the seat of bike is 770mm with kerb mass of 126 kilograms and a fuel tank with huge capacity of 14.2 liters.

READ MORE: Suzuki Pakistan announces plant shutdown on inventory shortage

October 29, 2022
Price, upgrades of newly launched Toyota GR Supra GT4 EVO 2023

Toyota Gazoo Racing today introduced the updated GR Supra GT4 race car for the 2023 season, which carry better upgrades enhancing the braking, handling and engine performance.

The ready-to-race GR Supra GT4 EVO will be priced at 186,000 euros or $185,151.82.

The car has been upgraded on the basis of customer and driver feedbacks, which have helped the super car to get even better.

READ MORE: Toyota stops car production in Russia

The press release issued by the Toyota Motors stated that, user feedback and requests have flowed directly into the development of the GR Supra GT4 EVO, which follows TOYOTA’s commitment to continuous improvement and building ever-better motorsports-bred cars for customers.

In response to constructive customer feedback and the results of detailed evaluations, Toyota Gazoo Racing development engineers focused their efforts on three key areas: brakes, handling and engine.

The improved brake system design, new ABS settings, latest KW damper technology and updated anti-roll bar specification, the GR Supra GT4 EVO will deliver improved handling and higher cornering speeds.

READ MORE: Lexus launches new electric car UX 300e

The drivers will be able to push for faster lap times due to increased power and an optimised torque curve of the 3.0-litre, six-cylinder, turbocharged engine, which benefits from more effective cooling.

The GR Supra GT4 EVO is easier to drive for ambitious amateur drivers whilst it also provides the precise performance demanded by professional racers.

The GR Supra GT4 EVO will make its competitive debut in January 2023 at the 24 Hours of Daytona, the first round of the IMSA Michelin Pilot Challenge season.

Orders for the GR Supra GT4 EVO will be taken from October 28 2022 and an upgrade kit will be available to existing GR Supra GT4 customers.

READ MORE: Toyota launches new redesigned Sienta minivan

October 28, 2022
Indus Motor declares 76% fall in net profit during 1QFY23

Indus Motor Company Limited (INDU) has declared massive fall of 76 per cent in its net profit during first quarter (July – September) of the fiscal year 2022/2023.

According to financial results submitted to Pakistan Stock Exchange (PSX) on Thursday, the company declared after tax profit at Rs1.29 billion for the quarter ended September 30, 2022 as compared with Rs5.42 billion in the corresponding quarter of the last fiscal year.

Indus Motor, which is maker of Toyota Motors in Pakistan, also announced earnings per share t Rs16.50 for the first quarter of the current fiscal year as compared with the EPS of Rs69.02 in the same quarter of the last year.

Board of directors of the company met on October 26, 2022 and announced first interim cash dividend for the quarter ended September 30, 2022 at Rs8.20 per share i.e. 82 per cent.

Analysts at Ismail Iqbal Securities said that topline of the company arrived in at Rs37.3 billion against the estimates of Rs42.9 billion, down 48 per cent and 43 per cent on Quarter on Quarter (QoQ) and Year on Year (YoY) respectively, primarily as result of 51 per cent and 52 per cent QoQ and YoY decline in car sales volumes.

The deviation in revenue could be due to rise in compensation on advances from customers and car prices revisions yet to reflect as cars might have been sold at March 2022 and April 2022 prices during the quarter.

Gross margins fall to lower ever levels of 6.3 per cent on account of depreciation of Pakistani Rupee (PKR) against the US dollar and lag price hike that is yet to reflect, according to the analysts.

Elevated deposit rates resulted in other income clocking in at Rs5.16 billion fell one per cent QoQ, despite likely fall in advances. Effective tax rate clocked in at 29.5 per cent against 88.1 per cent recorded in the last quarter.

October 27, 2022
Pak Suzuki Motors posts hefty loss of Rs2.5 billion in third quarter

Pak Suzuki Motors Company Limited (PSMC) on Wednesday declared massive loss of Rs2.5 billion for third quarter (July – September) 2022.

According to financial results submitted to Pakistan Stock Exchange (PSX), the company announced its third quarter of current year results where it posted loss after tax of Rs2.5 billion compared with profit of Rs443 million in the second quarter. The loss per share of the company came at Rs30.2 as compared with earnings per share Rs5.4 during the period under review.

The cumulative loss for nine months of current year (January – September 2022) to Rs2.5 billion with loss per share of Rs30.5/-.

Analysts at AKD Securities Limited said that earnings for the quarter are well below industry expectations due to finance costs going through the roof, clocking in at Rs4.8 billion for the quarter.

Revenue for the quarter has decreased by 54 per cent quarter on quarter (QoQ) to reach Rs29.8 billion, while also down by 41 per cent year on year (YoY).

The gross margin in third quarter of the current year clocked in at 5.2 per cent in contrast to the 4.4 per cent in the second quarter of the year. Despite significant currency depreciation, the company has hiked its prices in accordance, with the revised prices of June effective on some of the cars delivered, the analysts added.

They further said that finance costs have beaten expectations by a mile. With the Rs4.8 billion consisting of hefty compensation on late deliveries, likely north of Rs3 billion. The rest of the distance consists of exchange losses due to the revaluation of foreign trade creditors.

The company has sustained its strong other income in the quarter, clocking in at Rs1.1 billion owing to strong income from cash balance. The amount is significantly lower than the estimates, primary due to cash balance being diminished by the hefty payments on late deliveries.

October 27, 2022
Hyderabad Customs auctions NDP vehicles on October 27, 2022

KARACHI: The Collectorate of Customs, Hyderabad has announced auction of non-duty paid (NDP) vehicles to be held on October 27, 2022 at State Ware House of the Collectorate.

Following non-duty paid vehicles to be presented for the auction:

01. Swift car, bearing registration No. Plate AAJ-026, chassis No.ZC71S-403925, HP-1300cc, Model-2007.

02. Mira Car, bearing registration number plate BAX-369, chassis No.LA300S-0005693, HP-660, Model-2012.

03. Toyota Vitz Car, bearing registration number plate ALA-081, chassis No.SCP10-5060739, HP-1000, Model-2000

04. Toyota Premio car, bearing registration No. Plate ZV-826, chassis No.ZZT-240-5047054, HP-1800cc, Model-2005.

05. Toyota Mark X Car, bearing registration number plate QBA-862, Chassis No.GRX130-6009486, HP-2500cc, Model-2010

06. Toyota Mark X, bearing registration number plate GBS-598, chassis No.GRX121-1007924, HP-3000cc, Model-2006

07. Toyota Corolla XLI Car, chassis No.NZE120-6023637 HP-1300cc manual transmission Model 2005 (But physically alter engine Automatic 1800cc) with face Reg: No.AVP-916 (Accidental).

08. Honda City Car, bearing registration No. plate AGR-881, chassis No.NFBGE15A94R109396, HP-1300cc, Model-2004

09. Honda Civic Reborn Car, bearing registration No.plate ALT-505, chassis No.JHMFD-3620S201559, HP-1800cc, Model-2007

10. Toyota Mark-X car without registration number plate, chassis No.GRX130-6027816, HP-2500cc, Model-2010.

11. Toyota Mark X Car, bearing registration number plate HS-149, Chassis No.GRX120-0030298, HP-2500cc, Model-2005

12. Suzuki Alto Car, bearing registration number plate AFR, Chassis No.HA36V-108638, HP-660cc, Model-2015.

13. Toyota Passo Car, bearing registration number plate LED-4482, Chassis KGC10-0260829, HP-1000cc, Model-2009.

14. Toyota Premio car, bearing registration number plat AJU-756, chassis No.ZZT240-5032311, HP-1800cc, Model-2004.

15. Toyota Vitz car, bearing registration number plat AKJ-343, chassis No.SCP10-0219440, HP-1000cc, Model-2000.

16. Mini Mitsubishi Pajero, bearing registration number plat BD-8358, chassis No.H57A-0002853, HP-660cc, Model-1995.

17. BMW car, bearing registration number plate KU-088, chassis No.WBAGN62030DE56518, HP-5972cc, Model-2002.

READ MORE: Electricity withholding tax not applicable on ATL domestic consumers

READ MORE: Tax rates on goods, passenger transport vehicles during 2022-2023

READ MORE: FBR notifies tax rates on brokerage, commission during 2022-2023

READ MORE: Non-ATL to pay 200% more tax on motor vehicle purchase during 2022-2023

October 25, 2022
Tax rates on goods, passenger transport vehicles during 2022-2023

Federal Board of Revenue (FBR) has issued rates of withholding tax on goods and passenger transport vehicles to be paid during the year 2022-2023.

The FBR updated withholding tax card 2022-2023 after incorporating amendments made through Finance Act, 2022 to the Income Tax Ordinance, 2001.

READ MORE: FBR notifies tax rates on brokerage, commission during 2022-2023

The tax authorities collect withholding tax on goods and passenger transport vehicles under Section 234 of the Income Tax Ordinance, 2001.

Following are withholding tax rates and text of Section 234 of the Ordinance:

WITHHOLDING TAX RATES:

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Withholding tax is Rs2.50 per kg of leden weight goods transport vehicles.

READ MORE: Non-ATL to pay 200% more tax on motor vehicle purchase during 2022-2023

Withholding tax is Rs1,200 per annum in case of vehicles above 8,120 kg of laden weight.

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For passenger transport vehicle per seat:

4 or more persons but less than 10 persons, the tax rate is Rs200 per seat per annum in case of non-air conditioned and Rs375 in case of air conditioned.

10 or more persons but less than 20 person, the tax rate is Rs500 per seat per annum in case of non-air conditioned and Rs750 in case of air conditioned.

READ MORE: FBR notifies tax rates on prize bond, lottery winning during 2022-2023

20 persons or more, the tax rate is Rs1,000 per seat per annum in case of non-air conditioned and Rs1,500 in case air conditioned.

Federal Board of Revenue (FBR) has notified withholding tax rate on payment made for brokerage and commissioner during tax year 2022-2023.

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Section 234: Tax on motor vehicles

(1) Any person at the time of collecting motor vehicle tax shall also collect advance tax at the rates specified in Division III of Part IV of the First Schedule.

(2) If the motor vehicle tax is collected in instalments or lump sum the advance tax may also be collected in instalments or lump sum in like manner.

READ MORE: Tax rates for rental income from immovable property during 2022-2023

(2A) In respect of motor cars used for more than ten years in Pakistan, no advance tax shall be collected after a period of ten years.

(3) In respect of a passenger transport vehicle with registered seating capacity of ten or more persons, advance tax shall not be collected after a period of ten years from the first day of July of the year of make of the vehicle.

(4) In respect of a goods transport vehicle with registered laden weight of 7 less than 8120 kilograms, advance tax shall not be collected after a period of ten years from the date of first registration of vehicle in Pakistan.

READ MORE: FBR notifies withholding tax rates for exports during 2022-2023

(5) Advance tax collected under this section shall be adjustable.

“(6) For the purpose of sub-sections (1) and (2) “motor vehicle” shall include the vehicles specified in sub-section (7) of section 231B.”

October 23, 2022
Price of Honda HR-V in Pakistan

The Honda Atlas launched the HR-V with two variants, VTi and VTi S. The price of the VTi variant is Rs5,999,000 and VTi S variant is launched with the price of Rs6,199,000.

The booking price of both variants is Rs. 13 lacs, however the delivery status may differ on the time of bookings.

Honda Atlas has offered the warranty which is valid for 3 years or 75,000 kilometers drive for its customers.

The HR-V variants are equipped with a 1.5Lnaturally aspirated engine carrying the capacity to produces 121 horsepower and 145 Nm of torque.

READ MORE: Honda suspends car production in Pakistan

The car comes with the CVT transmission and both of the variants have eco mode.

The front face of the variants come with LED Auto headlights with LED DRLs. The front grille is painted with black color in VTi variant. However the color of front grille in VTI-S variant varies according to the color of body.

The VTi variant offers 2 tone 17″ Alloy Rims and VTi-S variant comes with grey painted 17″ Alloy Rims.

READ MORE: Honda launches locally assembled HR-V in Pakistan

The interior of both vehicles have 4.2 TFT screen, multimedia steering, smart entry, push start, ambient lights, and front console light.

The VTi variant offers 9″ multimedia against 9″ android/Apple car play multimedia in VTi-S variant.

VTi-S variant offers additional feature including the wireless charger, rear USB port, auto dimming rear view mirror, sequential turn signals, and LED fog lights. The grey and red interior is optional in both variants.

READ MORE: Honda Motor reveals 92% growth in production worldwide

October 23, 2022

Non-ATL to pay 200% more tax on motor vehicle purchase during 2022-2023

Persons not on Active Taxpayers List (ATL) are required to pay 200 per cent more withholding tax for purchasing motor vehicles during 2022-2023.

Federal Board of Revenue (FBR) issued withholding tax card 2022-2023 after incorporating changes made through Finance Act, 2022 to the Income Tax Ordinance, 2001.

According to the withholding tax card 2022-2023, the tax authorities have increased burden on the persons not on the Active Taxpayers List (ATL).

Following are the withholding tax rate on purchase of motor vehicles or registration:

Sr. No.	Engine Capacity	ATL	Non-ATL
1.	Upto 850 CC	Rs10,000	Rs30,000
2.	851 CC to 1000 CC	Rs20,000	Rs60,000
3.	1001 CC to 1300 CC	Rs25,000	Rs75,000
4.	1301 CC to 1600 CC	Rs50,000	Rs150,000
5.	1601 CC to 1800 CC	Rs150,000	Rs450,000
6.	1801 CC to 2000 CC	Rs200,000	Rs600,000
7.	2001 CC to 2500 CC	Rs300,000	Rs900,000
8.	2501 CC to 3000 CC	Rs400,000	Rs1,200,000
9.	Above 3000 CC	Rs500,000	Rs1,500,000

Provided that in cases where engine capacity is not applicable and the value of vehicle is Rupees five million or more, the rate of tax collectible shall be 3 per cent of the import value as increased by customs duty, sales tax and federal excise duty in case of imported vehicles or invoice value in case of locally manufactured assembled vehicles.

Following are the withholding tax rates at the time of transfer of registration to be collected by provincial excise and taxation department.

Sr. No.	Engine Capacity	ATL	Non-ATL
1.	Upto 850 CC	Nil	Nil
2.	851 CC to 1000 CC	Rs5,000	Rs15,000
3.	1001 CC to 1300 CC	Rs7,500	Rs22,500
4.	1301 CC to 1600 CC	Rs12,500	Rs37,500
5.	1601 CC to 1800 CC	Rs18,750	Rs56,250
6.	1801 CC to 2000 CC	Rs25,000	Rs75,000
7.	2001 CC to 2500 CC	Rs37,500	Rs112,500
8.	2501 CC to 3000 CC	Rs50,000	Rs150,000
9.	Above 3000 CC	Rs62,500	Rs187,500

Provided that where the engine capacity is not applicable and value of rupee is five million or more, the rate of tax collectable shall be rupee twenty thousand.

Provided further that the rate of tax to be collected under this clause shall be reduced by ten per cent each year from the date of first registration in Pakistan.

Following the withholding tax rates to be collected by every motor vehicle registration authority of Excise and Taxation Department at the time of registration, if the locally manufactured motor vehicle has been sold prior to registration by the person who originally purchased it from the local manufacturer.

Sr. No.	Engine Capacity	ATL	Non-ATL
1.	Upto 1000 CC	Rs100,000	Rs300,000
2.	1001 CC to 2000 CC	Rs200,000	Rs600,000
3.	2001 CC and above	Rs400,000	Rs1,200,000

October 23, 2022

FTO directs country-wide crackdown against smuggled vehicles

ISLAMABAD: The Federal Tax Ombudsman (FTO) has directed tax authorities to launch country-wide crackdown against smuggled vehicles.
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October 22, 2022