Pak Suzuki Increase Prices of Cars and Bikes up to Rs 90, 00

19 Dec 2019

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Pak Suzuki Increase Prices of Cars and Bikes up to Rs 90, 00

During the first five months of this year, the sales of cars and motorbikes reached at a very low level. Despite the reduction in the cost of importing parts, carmakers in the country have increased the prices of their cars and bikes as the rupee remains strong.

Pak Suzuki Motor Company Ltd PSMCL has raised the prices of various models of bikes and cars by Rs. 49, 000-90, 0000. The new price will be applicable from 1st January 2020.

The prices of Alto VXR and VXL are Rs. 1.398 million and Rs. 1.598 million following a price hike of Rs. 80,000-90,000. In the case of the WagonR VXR and VXL, the new price is Rs. 1.605 million and Rs. 1.695 million after a price hike of Rs. 65,000 and Rs. 70,000 respectively. Even Swift has seen its price increase by Rs. 90,000.

Aside from Cultus, almost the price is increased for every model.

660CC Alto has witnessed several price hikes this year, with a price hike of Rs 500. 137,000 in August and then in October Rs. 70,000-85,000.

The newly launched Jimny has seen an increase in its price by Rs. 100,000 to Rs. 3.990 million and even the bikes cost Rs. 3,000-5,000.

Shafiq Ahmad Sheikh, a spokesman for PSMCL, said the company has been posting losses in all four consecutive circles till September.

Because of this, they are trying to raise prices despite a substantial in prices. Market experts, however, are surprised at the price hike as demand is decreasing and the rupee is strengthening against the dollar.

Currently, one dollar is equivalent to Rs 155 as against 164 in June, which indicates a reduction in the cost of imports. During 5MFY20, car sales are down by 44%, with overall sales decreasing by 44%.

Although the carmakers and their vendors were proud of getting up to 70 localization, they are still raising prices and in the case of two wheels, 90% of the localization is present but prices are still booming.

Yamaha Motors Pakistan Limited has also increased its bike prices from 1st January 2020. 139,000, up from Rs 136,500, while the YBR 125G has seen its price rise above Rs. 160,000 to Rs. 163,500 and YBR 125 at a price of Rs. 153,500 to Rs 153,500.

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