In Karachi. Days after major automakers raised their prices, Pakistan’s top automaker Suzuki Motor Company announced a significant price increase for its domestically built vehicles.
The Suzuki brand car manufacturer in Pakistan, Pak Suzuki Motors, announced increased rates for the second time in a month. From February 9, the revised prices will be in effect (Thursday).
With a price difference of Rs175,000, the new price of the Alto VX skyrocketed to Rs2,034,000. The price of the top-tier Alto AGS model was raised by Rs228,000 to Rs2,651,000.
Wagon R AGS’s price has grown to Rs3,348,000, while Wagon R VXR’s price increased by Rs248,000 to reach Rs2,877,000. With a difference of Rs0.37 million, Cultus AGS is at Rs3,906,000 and Cultus VXR has increased to Rs3,326,000.
Suzuki Swift’s price rose to Rs3,807,000, while Swift GLX CVT’s price rose to Rs4,462,000, representing an about Rs350,000 difference.
Here are the updated costs:
Suzuki said earlier this week that its manufacturing facility would be temporarily closed from February 13, 2023, until February 17, 2023. Pak Suzuki Motors informed the Pakistan Stock Exchange Limited that it would cease all manufacturing from February 13, 2023, to February 17, 2023, citing a persistent inventory level deficiency.
With these Non-Production Days, the automaker will go 48 days in a row without creating any new cars. Prior to this, the company put a temporary hold on accepting new reservations for its two-wheelers beginning January 20 and used the excuse that its supply chain was hampered by imports.
However, it insisted that reservations will resume as soon as the situation improved.
Along with the auto industry, many other industries are struggling to keep up with operations due to a sharp decline in the foreign exchange reserves held by the nation’s central bank.