Last month, Pak Suzuki motors announced a Price Hike in its all cars because of the Pakistani rupee devaluation against the United States Dollar. The price hike is for three vehicles, Suzuki Cultus AGS, Suzuki Swift DLX and Swift AT NV.
The company sent a notification to the dealers, which included the increased prices. The price of Cultus AGS has been increased from 1.663 to 1.668 million, swift’s price has received a hike of 1.555 million to 1.558 million, and swift AT NV from 1.691 to 1.721 million.
Although, upon the notice, the company didn’t mention any particular reason, but according to certain sources, it is confirmed that the price hike is due to the rupee depreciation. It is believed that the Pak Suzuki has not passed on the impact of this event to its customers.
Industrialists believed that the auto giant are facing some internal issues, and others are expansion in the auto industry and increased competition.
Recently, it was revealed that the company suffered a loss of Rs. 980 million in the first quarter of the year 2019, as compared to the Rs. 904 million profit in the same quarter of the previous year.
After the discontinuation of Mehran, Pak Suzuki has never faced such a big loss since 2010.
This is the third time price increase in the current year. First, they increased the price of motorcycles and four wheel drive vehicles, then they increased the price of almost every standard cars and now again, cultus and swift.
Just because of the rupee devaluation, the import of auto parts has been highly impacted, not only this but also on the imports of the raw material which are needed for the production of auto parts.