LAHORE: Pak Suzuki Motor Company has decided to increase the price of its entire motorcycle range. The new prices are as follows:
The price increase comes exactly two weeks after Suzuki announced its first price increase for its motorcycles, and a day after Suzuki announced an increase for its entire four-wheeler portfolio.
Speaking to Profit, Shafiq Ahmed Shaikh, Head of Public Relations at Pak Suzuki Motor Company, previously stated “It is a very very critical time for Pak Suzuki, its vendors, and dealers as all are disturbed due to no production and sales” in reference to the price increase across Suzuki’s four-wheelers.
“Due to current economic uncertainties, inflation in local as well as international raw and other materials cost, the volatile situation of forex, increase in utilities and overheads. This situation has made it very difficult for Pak Suzuki to hold the current selling prices. So, keeping in view we are compelled to pass on a very minimal portion of this adverse impact through price increase,” Shaikh continues when asked about the price increase.
Muhammad Sabir Sheikh, Chairman of the Association of Pakistan Motorcycle Assemblers (APMA), tells Profit that the increase is due to “A shortage of raw materials, no new L/C’s (letters of credit), the current devaluation, and production issues”. Sheikh also states that customers should brace for future price increases on the horizon as well due to the aforementioned factors he listed.
Suzuki has until December, the last month for which the Pakistan Automotive Manufacturers Association (PAMA) released industry sales data, been able to exceed its FY22 sales figures. Suzuki’s 1HFY23 sales figures are at 3,312 compared to its 3,115 units sold over the same period last year.
Whether Suzuki’s motorcycle sales will continue to remain insulated from the upwards price revisions going forward will be interesting.
