Suzuki Car Prices Hike by 3.55 Lacs: Impact Felt Across Pakistan Auto Market

Suzuki car prices hike for the 2nd time in less than a month. The automobile industry is facing worst conditions than the COVID-19 situation. Suzuki has increased its unbelievable PKR price up to 3.5 lacs. The price hike is the result of the constant devaluation of the Pakistani Rupee against the USD dollar with the addition of restrictions on imports of CKD kits. You would be curious to know about the new prices of Alto, Wagon R, Cultus, and others. The Prices will be effective from 9 February 2023. It’s not only the Suzuki motor company that has increased the prices in a short period.

Pak Suzuki suspends motorcycle booking due to supply chain restraint

Recently Honda Atlas also raised their prices for the second time in a month due to the rupee devaluation. The only reason for increasing the prices of cars is to slow down the sales volume of the company affected due to high inflation and soaring interest rates. The vendors and dealers are distributed due to no production and sales. This is due to the current economic uncertainty, inflation input cost, volatile situations of forex, and increase in prices of utilities overhead. This has made it a very difficult situation for the company to hold the current selling prices.

Automobile company prices increase due to LCs

In the past month, the Toyota, Honda, KIA, and Hyundai companies have all announced an increase in car prices due to an increase in the dollar rate. Honda Company also increased the prices of cars for the second time in a month. Hyundai motors also increased its vehicle price earlier this month. KIA motors also increased its car prices. Toyota motors also increased its price twice a month by about 1.16 million.

Suzuki Alto price in Pakistan 2023


Final opinion: We don’t know which price hike is happening as there have been several price increases since last year. This time the automobile companies have increased prices twice a month and it seems to continue till the stability of the dollar rate. The company did not give any specific reason for the price change. Furthermore, the company said that any government tax and additional charges that is applicable at the time of delivery should paid by customers. Pakistan’s automobile sector hit hard owing to problems with the opening of letters of credit, arising due to the rapidly depleting foreign exchange reserves and a weakening rupee.

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Rida Shahid
Rida Shahidhttps://hamariweb.com/
Rida Shahid is a content writer with expertise in publishing news articles with strong academic background in Political Science. She is imaginative, diligent, and well-versed in research techniques. Her essay displays her analytical style quite well. She is currently employed as English content writer at hamariweb.com.

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