LAHORE: Pak Suzuki Motor Company has announced its second price increase for 2023. The new prices are as follows:
The price increase comes a mere 15 days after Suzuki announced its first price increase for its entire four wheeler portfolio, and 13 days after its decision to increase the prices of all of its two-wheelers.
Speaking to Profit, Shafiq Ahmed Shaikh, Head of Public Relations at Pak Suzuki Motor Company, states “It is a very very critical time for Pak Suzuki, its vendors, and dealers as all are disturbed due to no production and sales”.
“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.
The decision also comes hours after Suzuki announced that it would be observing its fourth spell of non-production days from February 13 to February 17. The confluence of these two events is likely to have a two way depression on Suzuki’s sales.
The price increase will further the demand destruction that Suzuki, like other companies, has been subject to for the entirety of FY 2023. In the situation that customers are willing to pay the higher price Suzuki is asking, the plant shutdown will likely reduce the number of orders Suzuki can either take directly or without building up too large of a queue in terms of delivery times. The ramifications of these decisions taken by Suzuki will only come to light once the Pakistan Automotive Manufacturers Association (PAMA) releases its sales figures for the month of February.
However, for context, Suzuki’s current 1HFY23 units sold stood at 48,371 based on PAMA’s figures. This amounts to a 33% decline from its 1HFY22 figure of 72,703. This price increase pushes all of Suzuki’s passenger cars, not intended for commercial use, over the Rs 2 million mark.
Ab aam aadmi kya karega?
Aam Admi Sycle Chalaye ab
ALLAH karay SuUki band ho Jaye awam ko loot rahay hy itnay paiso mein achi japnees Car a jati hy….
Sir yahan suzuki company keya kare hmare Pakistan mn Hall hi koi ni Dollar kaha sy kahan chala geye
suzuki walo khuda ka khof kro ap b ganjun ki trh lot mar kar rhy ho
Suzuki bakwas gari hay as pir atnay pasy laganay say acha hay koyee Japani gari layee