LAHORE: Pak-Suzuki Motor Company (PSMC) has notified the Pakistan Stock Exchange (PSX) that it will shut down its automobile plant from October 19 to October 21.
The company has attributed its decision to prevailing administrative oversight by the State Bank of Pakistan (SBP) on the import of completely-knocked-down (CKD) kits. PSCM’s motorcycle plant will, however, remain operational.
PSMC, Pakistan’s largest car manufacturer by sales volume, has been encumbered for the majority of this summer with non-production days (NPD) which have culminated in the announcment of its seventh production shutdown since August. It had previously halted production from August 18 to August 19 , August 22 to August 26, August 29 to August 31, September 6 to September 9, and September 19 to September 23.
The motor company has placed the blame completely on SBP. This issue erupted earlier this June when the central bank sought to curb the outflow of forex by restricting imports of CKD kits needed to assemble cars. One of the issues that the persistent NPDs have created is that they have exacerbated the demand destruction in the car industry. Customers that persist and endeavor to purchase cars despite the significant price increases in 2022 are subject to egregiously long wait times, and subsequently on-premiums.
In terms of the demand destruction that NPDs have exacerbated, the company saw a month-on-month (MoM) decline of 58 per cent and 41 per cent in sales during July and August, respectively, based on the data they released to the Pakistan Automotive Manufacturers Association (PAMA). Its best selling model, the Alto, also saw a 50 per cent MoM contraction in August. The company’s two month sales for FY23 are 61 per cent lower than FY22 for a total of 16,610 fewer units sold.
Moreover, PSMC’s contemporaries in the Big 3, Toyota Indus Motor Company (IMC) and Honda Atlas Cars Pakistan Limited (HACPL) have also suffered with HACPL having announced a week long production shut down last week.
PSMC has, however, undoubtedly fared far worse than its other two contemporaries with no end in sight for either the company nor the rest of the industry as to when the SBP’s measures on CKD imports will loosen.
Suzuki company is one of the most popular company in Pakistan.Demand of new alto 660 cc is superb .In my opinion they must pay attention about the car body material. Suzuki Alto…Swift….are the most hot selling items these days
Their body material is not good. They should pay attention on that after taking heavy amount.
Suzuki motor must shutdown from Pakistan forever. Nobody asking from this company why they charge heavy amount of 6th class cars.
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suzuki ,kindly note that my order was confirmed in May through DIB and my dealer has already delayed the delivery , now what the hell should we do to get our cars ordered?? Suzuki company must be fined for this delay and shutting down
my car was booked before 5 months back in May with full payments and my order was confirmed in 30th of September….but still waiting for delivery even no one is bothering to contact customer? what type of service r providing in pak, despite paying full payments customer is suffering, 15 days almost crossed and still no date is shared… pls confirm till when vehicle may delivered? as showroom have same instance as they don’t know and delay is from company end ,
my car was booked before 5 months back and my order was confirmed in 24th of September….but still waiting for the delivery due to stupid planing by the Suzuki company….
I have booked alto and supposed to be delivered in 20th of September… Lara Rupa still can heard from SUZUKI dealership but delivery is still long awaited …
Shame on you Suzuki company, one of the worst experience to book a car from this bullshit company, they have no ability to complete the order in time, it’s whole staff always speak lies and disloyal people.
such a big fraud named Suzuki company in Pakistan booked car 2 may still not know when they delivered.
disloyal, incompetent and untrain whole staff zero potential zero credibility of the company. lanati Suzuki company heheh
Hi, which varient you booked?
I will explain you, what is actual reason.
Thanks
Get out from Pakistan you all
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