ISLAMABAD: The Pak Suzuki Motor Company Limited (PSMCL), while giving its revisions in automobile retail prices, has jacked up the prices of its vehicles in the range of Rs20,000 to Rs30,000 in almost all variants, it has been reliably learnt.
The Pak Suzuki Motor Company Limited in a letter dated 31 May 2018 to the company’s authorised dealers has informed about new revisions in automobile retail prices, and the revised sale prices of Suzuki automobiles have become effective from June 1, 2018, in the country. However, the revised prices will not be considered for old pending orders who have failed to deposit their balance payment within due date.
As per Pak Suzuki Motor Company Limited’s revision in automobile retail prices, retail prices exclusive of advance income tax of Mehran VX have stood at Rs739,000, Mehran VXR Rs795,000, Suzuki Ravi Rs756,000, Suzuki Bolan Rs814,000, Cargo Van Rs780,000, WagonR VXL Rs1,194,000, WagonR VXR Rs1,104,000, Cultus VXR Rs1,300,000, while Swift MT Rs1,435,000, and Swift AT Rs1,571,000.
“The retail prices are inclusive of ex-factory product price and freight charges incurred on the vehicle to reach your dealership premises,” said Pak Suzuki Motor Company Limited in a letter to Pak Suzuki authorised dealers.
The company also declared that the above prices are subject to change without notice and price at the time of delivery shall apply. Also, any government tax applicable will be charged to the consumers.
It is relevant to mention that Pak Suzuki Motor Company Limited has made third upward revision in the prices of automobile during the ongoing year, and made Suzuki cars expensive apparently because of frequent changes in government’s policies especially the depreciation in the value of Pak rupees and expected rise in competition with the entry of new players in the country.
Previously, Pak Suzuki Motor Co. Ltd. had increased prices in January and March this year following the rupee’s depreciation. It is feared in the auto industry that the demand would fall after the government has put restrictions on new vehicle purchase by non-filers of income tax returns where roughly half of the car buyers are non-filers.
Reportedly, new car makers including Nissan, Kia, Hyundai, Renault and United Motors are expected to roll out their cars in the next few years in the country. And, the existing auto industry players consisted of Suzuki, Honda and Toyota that have dominated Pakistan’s market for many decades are likely to face tough competition from the new carmakers.