Pak Suzuki Motor Company (PSMC) has recently announced a price hike for its various models, with increases of up to Rs. 180,000. The notification, released on February 29, indicates that Suzuki Alto variants in the 660cc category will see prices rise by up to Rs. 110,000. Post-adjustment, the prices are as follows: Alto VX now stands at Rs. 2,331,000, Alto VXR at Rs. 2,707,000, Alto VXR AGS at Rs. 2,894,000, and Alto VXL AGS at Rs. 3,045,000.
The Suzuki Cultus AGS takes the brunt of the increase, experiencing a significant Rs. 180,000 hike, bringing its new price to Rs. 4,546,000. Similarly, the Suzuki Swift GL MT and Swift GLX CVT models witness an increase of Rs. 85,000 each. Pak Suzuki’s Head of Corporate Affairs, Shafiq Ahmed Sheikh, explained that despite challenges such as plant closures and various other factors, the company had refrained from raising prices for nearly a year.
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Shafiq Ahmed Sheikh attributed the price adjustments to inflation, increased overhead expenses, rising international raw material and accessories costs, as well as escalated shipment and freight expenses. He highlighted the Red Sea issue as a critical factor beyond the company’s control, leading to substantial increases in freight costs. However, there’s uncertainty regarding the duration of this challenge.
In response to these challenges, Shafiq Ahmed Sheikh mentioned that Pak Suzuki is compelled to transfer only a minimal portion of the adverse impact through price increases on select products. Nevertheless, the company intends to absorb the major portion of the increased burden.
