In the fashion of the other major automakers, Pak Suzuki, the one with the largest part of the market in India has increased the price of cars beginning on August 1, as learned on Monday.
The company has increased pricing of the top-ofthe-line Swift GX CVT by over Rs661,000 which is the largest increase over all other models. The price of the hatchback with 1,200cc engine is currently Rs3.959 million.
However, Alto’s standard VX price has an increase of 314 rupees. The car Suzuki is now priced at Rs1.789 million.
“Suzuki’s customers are price-sensitive,” said Ahmed Lakhani who is an expert in the field of autos. “The company appears to have missed the least effect of depreciation of the rupee since the last time it drove up prices for cars. The rupee has appreciated more, and the company has raised prices by 20% in the average.”
Lakhani stated that the auto industry doesn’t just have to deal with an increase in the cost imports of auto components but also increased transportation and energy costs since the rupee’s value decreases.
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Yet, Lakhani said he does not expect demand to drop too much , even though automakers are raising prices. He also said that even the limitations imposed put in place by the State Bank of Pakistan on auto financing will not hinder sales of cars.
“If Toyota has been selling between 60,000 and 65,000 cars per year, the sales could fall to 55,000 vehicles. The decline won’t be greater than 55,000 cars.
“However the supply side could be slowed due to limitations on the opening for LCs,” he said. “Therefore the sales of cars could be impacted by supply-side problems.”