In recent developments, the price of the Swift GLX CVT model by Pak Suzuki Motor Company in Pakistan has surged for the second time in just a month, now standing at Rs5.429 million. This increment amounts to a significant 6.3% rise, equivalent to Rs304,000, from its previous price of Rs5.125 million.
The driving force behind this increase, as cited by Pak Suzuki, is the substantial sales tax imposed on locally assembled vehicles. This tax hike occurred on March 8, elevating the tax rate from 18% to 25% specifically for vehicles with an invoice price (excluding sales tax) surpassing Rs4 million. Moreover, Pak Suzuki had already adjusted the price upward by Rs85,000 on March 1 due to inflationary pressures and escalating raw material costs.
This latest adjustment represents the second consecutive price hike for the Swift GLX CVT model within a single month, highlighting the profound impact of economic dynamics such as inflation and governmental policies on the automotive sector in Pakistan.
