For the second time in a single month, Pak Suzuki Motor Company (PSMC) has raised its car prices by an amount ranging from Rs 175,000 to Rs 350,000.
This change is a result of similar price revisions made by Indus Motor Company and Honda Atlas. These new prices will take effect starting on February 9th.
Recently, various original equipment manufacturers (OEMs) in Pakistan, including Indus Motor Company, Honda Atlas, Lucky Motor Corporation (KIA), and Hyundai Nishat Motor, have raised their car prices for the second time within a month due to the massive depreciation of the rupee.
Auto sector analyst Arsalan Hanif stated that the only reason for the price increase is the recent drop in the value of the rupee, and he expects this to slow down the sales volumes as consumer purchasing power is affected by high inflation and rising interest rates.
Last month, when Suzuki increased their prices, company spokesperson Shafiq Ahmed Shaikh explained that they are facing critical times with no production and sales due to the current economic uncertainty, rising inflation in input costs, and increased prices of utilities and overhead.
Honda Atlas Cars raised their prices earlier this month for the second time in two weeks, with a hike as high as Rs 1.1 million cumulatively.
Hyundai-Nishat Motors and Lucky Motor Corporation also raised the prices of their vehicles by Rs 400,000-500,000 and Rs 100,000 to Rs 1.3 million respectively.
Indus Motor, the seller of Toyota-brand vehicles in Pakistan, has also recently increased its car prices twice, with the latest hike going as high as Rs 1.16 million.
Pakistan's automobile sector has been struggling due to issues with opening Letters of Credit (LCs) due to rapidly decreasing foreign exchange reserves and a weakened rupee.
Suzuki Alto Cars new Prices 2023:
| Car Model | Revised Price (Rs) | Increase (Rs) | Previous Price (Rs) |
|---|---|---|---|
| Suzuki Alto VX | 2,034,000 | 175,000 | 1,859,000 |
| Suzuki Alto VXR | 2,359,000 | 203,000 | 2,156,000 |
| Suzuki Alto VXR AGS | 2,528,000 | 218,000 | 2,310,000 |
| Suzuki Alto AGS | 2,651,000 | 228,000 | 2,423,000 |
Suzuki Wagon R Cars new Prices 2023:
| Car Model | Revised Price (Rs) | Increase (Rs) | Previous Price (Rs) |
|---|---|---|---|
| Suzuki Wagon R VXR | 2,877,000 | 248,000 | 2,629,000 |
| Suzuki Wagon R VXL | 3,052,000 | 263,000 | 2,789,000 |
| Suzuki Wagon R AGS | 3,348,000 | 289,000 | 3,059,000 |
Suzuki Cultus Cars new Prices 2023:
| Car Model | Revised Price (Rs) | Increase (Rs) | Previous Price (Rs) |
|---|---|---|---|
| Suzuki Cultus VXR | 3,326,000 | 287,000 | 3,039,000 |
| Suzuki Cultus VXL | 3,654,000 | 315,000 | 3,339,000 |
| Suzuki Cultus AGS | 3,906,000 | 337,000 | 3,569,000 |
Suzuki Swift Cars new Prices 2023:
| Car Model | Revised Price (Rs) | Increase (Rs) | Previous Price (Rs) |
|---|---|---|---|
| Suzuki Swift GL MT | 3,807,000 | 328,000 | 3,479,000 |
| Suzuki Swift GL CVT | 4,092,000 | 350,000 | 3,742,000 |
| Suzuki Swift GLX CVT | 4,462,000 | 347,000 | 4,115,000 |
Suzuki Ravi Cars new Prices 2023:
| Car Model | Revised Price (Rs) | Increase (Rs) | Previous Price (Rs) |
|---|---|---|---|
| Suzuki Ravi | 1,669,000 | 130,000 | 1,539,000 |
| Suzuki Ravi w/o Deck | 1,594,000 | 130,000 | 1,464,000 |
Suzuki Bolan Cars new Prices 2023:
| Car Model | Revised Price (Rs) | Increase (Rs) | Previous Price (Rs) |
|---|---|---|---|
| Suzuki Bolan Van | 1,754,000 | 135,000 | 1,619,000 |
| Suzuki Bolan Cargo | 1,741,000 | 135,000 | 1,606,000 |
