Pak Suzuki Motor Corporation raised automobile prices by up to Rs263,000 on Tuesday, the third time in six weeks.
The most recent price hike was linked to growing power costs and currency depreciation, according to the firm. The increased price will be implemented on February 20, 2023.
It is worth noting that the corporation has raised vehicle costs by up to Rs968,000 this year.
Pakistan’s auto sector has substantially boosted prices since the beginning of 2023. Both Honda Atlas and Indus Motor Company tripled their vehicle price increases.
The Alto VX, Suzuki’s most economical passenger vehicle, would now cost Rs2.144 million, a Rs10,000 increase. The top-of-the-line Swift GLX CVT now costs Rs4.725 million, a Rs263,000 increase.
According to Shafiq Ahmed Shaikh, Pak Suzuki’s Head of Public Relations, in Business Recorder, the company raised prices due to recent increases in the cost of electricity, gas, GST (general sales tax), different utilities and overhead expenses, currency fluctuation, economic uncertainties, increase in local and international raw material parts and accessories cost.
On January 24, 2023, the firm hiked car prices for the first time in 2023, then again on February 9.