Pak Suzuki Motor Company Ltd raised the prices of various car models by Rs88,000-235,000 for the fourth time this year without stating any reason in their circular to dealers.
The company hiked the rates of Alto VX, VXR, VXR AGS, and AGS models resulting in a surge of Rs107,000-140,000, and the new prices for these models are now Rs2.252 million, Rs2.612 million, Rs2.799 million, and Rs2.935 million, respectively.
Additionally, the rates for WagonR VXR, VXL, and AGS models have also increased by Rs152,000-178,000, and are now at Rs3.214 million, Rs3.412 million, and Rs3.741 million, respectively.
The company raised the prices of Cultus VXR, VXL, and AGS by Rs178,000-209,000, and the models are now selling at Rs3.718 million, Rs4.084 million, and Rs4.366 million respectively.
Additionally, the retail prices of Suzuki GL MT, GL CVT and GLX CVT have surged by Rs204,000-235,000, and they are now being sold at Rs4.256 million, Rs4.574 million, and Rs4.960 million.
In a stock filing, Agriauto Industries Ltd and Agriauto Stamping Company announced a partial shutdown during this month.
Earlier,
Pak Suzuki Extends Motorbike Production Shutdown
PSMC, the Pak Suzuki Motor Company, has announced that it will shut down its motorbike plant until April 15th and suspend its automobile plant operations from April 7th to April 14th due to import restrictions that have affected the auto sector, causing a shortage of inventory.
Last month, PSMC shut down its motorbike plant for 12 days due to a lack of raw materials, but the automobile plant remained operational.
Muhammad Sabir Shaikh, the Chairman of the Association of Pakistan Motorcycle Assemblers (APMA), expressed concern over the shortage of completely knocked down (CKD) parts in the country’s bikes and automobile industry.
According to him, the unavailability of CKD parts has led to the suspension of production lines, a decrease in the number of customers for new cars and motorcycles, and a surge in the price of CKD parts to unprecedented levels, resulting in a sharp increase of over 22% in the markup on leasing of cars.
He further lamented that the current situation is the worst the auto industry has ever faced in the history of Pakistan.
