Vehicle prices: Here's what auto industry expert has to say

In view of the soaring inflation, some auto companies have reduced the prices of cars to make them affordable for the citizens, ARY News reported on Thursday.

While speaking on a private TV channel program, Sunil Sarfaraz Munj, the auto industry expert, revealed in his detailed analysis that, “car prices have not been reduced, however, after the U.S dollar crossed Rs 275 it really affects the buying power of the middle-class.”

Suneel Sarfraz Munj said, “The prices of vehicles will not be reduced at all, since the prices of vehicles have not increased.”

“The prices of cars are adjusted according to the rate of 275 rupees per dollar, and currently, the dollar is also at this rate. So, on what basis should the prices be reduced?” He stated.

In response to a question, the auto expert said that the price of cars can be reduced only if the value of the dollar drops below Rs 250, which seems impossible.