Tag: suzuki

  • Car sales in Pakistan hit 15-year low in FY 2023-24: PAMA data

    Car sales in Pakistan hit 15-year low in FY 2023-24: PAMA data

    Car sales in Pakistan plummeted to their lowest level in 15 years during the fiscal year 2023-24, as reported by the Pakistan Automotive Manufacturers Association (PAMA).

    The data reveals that sales of cars, including light commercial vehicles (LCVs), vans, and jeeps, declined by 18.2 per cent year-on-year, amounting to 103,826 units by the end of the fiscal year on June 30, 2024.

    This marks the lowest sales figures since FY 2009.

    In comparison, 126,878 units were sold in the previous fiscal year, while the average sales over the past five years stood at 188,030 units.

    Furthemore, passenger car sales decreased by 15.7 per cent year-on-year to 81,577 units during the fiscal year, compared to 96,811 units recorded in the previous year.

    Total production of passenger cars was 79,573 units in FY24, a 22.0 per cent decline from the 101,984 units produced last year.

    The PAMA data also highlighted that the highest number of passenger car sales occurred in the ‘Below 1000cc’ category, with 38,657 units sold in FY24.

    Within this segment, Suzuki Alto led with 35,883 units sold, followed by Suzuki Bolan with 2,774 units.

  • Suzuki eyes biogas plant in Karachi to strengthen its presence in Pakistan

    Suzuki eyes biogas plant in Karachi to strengthen its presence in Pakistan

    Suzuki Motor Corporation is poised to bolster its footprint in Pakistan with plans to establish a biogas plant in Karachi.

    This strategic move was articulated by Kenichi Ayukawa, the Global Vice President of Suzuki Motor Corporation, during a high-level meeting held in Islamabad on Thursday. The meeting convened Ayukawa and Rana Tanveer Hussain, the Federal Minister for Industries and Production.

    Hailing the delegation, Minister Hussain underscored the pivotal role of the automotive industry in Pakistan’s economic landscape. He highlighted its substantial contributions spanning employment generation, economic expansion, technology infusion, and industrial advancement.

    Notably, the government is steadfast in its commitment to fortifying the local automotive sector, extending tax exemptions and other inducements to automakers, and investing in research and development initiatives.

    Furthermore, to foster the adoption of cutting-edge technologies, incentives are being extended for Electric Vehicles (EVs) and Hybrids, encompassing duty-free import privileges for plant and machinery essential for establishing EV manufacturing facilities.

    This proactive stance has already yielded tangible results, with 43 companies securing manufacturing certificates for the local production of EV 2/3 wheelers.

    Suzuki’s envisaged biogas plant in Karachi aligns with the broader strategy to enhance sustainability and operational efficiency while contributing to the nation’s energy diversification efforts.

    This development signals a promising trajectory for Suzuki’s endeavors in Pakistan, reflecting a shared commitment to economic prosperity and environmental stewardship.

  • My Suzuki My Story is back for season four to spread happiness & joy

    My Suzuki My Story is back for season four to spread happiness & joy

    Suzuki has been a trusted companion to Pakistanis with its affordability and durability for over four decades. Over the years, Suzuki has become an integral part of countless lives by providing reliable transportation to generations, thus creating a wealth of cherished memories.

    To strengthen the bond with its customers, Pak Suzuki has launched My Suzuki My Story season four, where all Suzuki owners can celebrate and showcase their treasured moments with their Suzuki. Excitingly, this innovative digital initiative is offering exciting rewards for innovative content that evokes emotions and spark creativity.

    My Suzuki My Story is a platform for expressing and sharing stories. It can happen through any artistic format (videos, short films, paintings, pictures, narrations, songs, etc) to relive their Suzuki adventures. It can be any exhilarating memory, like the first drive with a newly purchased Suzuki, a family road trip to scenic destinations, or the unwavering companionship of a Suzuki vehicle through challenging times. Each of these stories has the essence of Suzuki’s enduring presence in the lives of Pakistanis.

    Participants have the opportunity to win attractive prizes, like a brand-new Suzuki Alto 660cc car, a Europe Trip, or a powerful GSX 125 motorcycle.

    Visit the website https://www.mysuzukimystory.com.pk/ to share your Suzuki story on the theme “Stories & Memories with Suzuki” and be a part of something special.

    Paid post

  • Suzuki GR 150 will now cost more than Rs5 lac

    Suzuki GR 150 will now cost more than Rs5 lac

    Pak Suzuki, in its latest round of price hikes, has increased the rates of its bikes including the GR150 and other models. This marks the third price hike for the company’s bikes in just four months.

    Starting from April 7, 2023, the new prices will be implemented.

    The GR150, which is one of the popular models from Suzuki, now costs over five lacs, which is an astonishing price for a bike. The company claims that the hike is necessary to cover the increasing costs of production and other related expenses.

    The Suzuki GD 110S, which was previously priced at Rs290,000, has now been given a price tag of Rs322,000 after the hike of Rs32,000. Similarly, the Suzuki GS 150 has undergone a transformation from its previous cost of Rs315,000 to a new price of Rs350,000, thanks to the increase of Rs35,000. The GSX 125, on the other hand, has seen an increase of Rs47,000, taking its previous cost of Rs422,000 to a new high of Rs469,000. Finally, the Suzuki GR150, known for its style and performance, has gone from Rs451,000 to Rs501,000 after a price hike of Rs50,000.

    This increase in prices will undoubtedly affect customers, especially those who rely on these bikes as their primary mode of transportation. It is hoped that the company will take steps to ease the burden on its customers and provide affordable bikes that meet their needs.

    Suzuki Bike Model Old Price (Rs) New Price (Rs) Price Hike (Rs)
    Suzuki GD 110S  290,000  322,000  32,000
    Suzuki GS 150  315,000  350,000  35,000
    Suzuki GSX 125  422,000  469,000  47,000
    Suzuki GR150  451,000  501,000  50,000
  • Suzuki Swift GLX now costs more than Rs4.7 million after latest hike

    Suzuki Swift GLX now costs more than Rs4.7 million after latest hike

    Pak Suzuki Motor Company has announced its third price hike in less than 30 days, resulting in an increase in the prices of some of its more affordable car models. This move follows the ongoing trend, with Pak Suzuki citing mounting inflation and local currency depreciation as the primary reasons for the price increase.

    With immediate effect, the revised car prices are as follows:

    Variants Old Price (Rs) New Price (Rs) Increase (Rs)
    Alto VX 2,034,000 2,144,000 110,000
    Alto VXR 2,359,000 2,487,000 128,000
    Alto VXR AGS 2,528,000 2,665,000 137,000
    Alto VXL AGS 2,615,000 2,795,000 144,000
    Wagon R VXR 2,877,000 3,062,000 185,000
    Wagon R VXL 3,052,000 3,248,000 196,000
    Wagon R AGS 3,348,000 3,563,000 215,000
    Cultus VXR 3,326,000 3,540,000 214,000
    Cultus VXL 3,654,000 3,889,000 235,000
    Cultus AGS 3,906,000 4,157,000 251,000
    Swift GL M/T 3,807,000 4,052,000 245,000
    Swift GL CVT 4,092,000 4,335,000 263,000
    Swift GLX CVT 4,462,000 4,725,000 263,000
    Bolan VX 1,754,000 1,852,000 92,000

    A production halt was announced by the manufacturer last week as a result of the continued economic downturn and inventory constraint. Further days without manufacturing indicate a greater sales drop. That might result in Pak Suzuki losing a considerable portion of its market share, especially in light of the recent price increase.

  • Car sales in Pakistan drop by 65% due to low purchasing power, supply chain disruptions

    Car sales in Pakistan drop by 65% due to low purchasing power, supply chain disruptions

    According to data from the Pakistan Automotive Manufacturers Association (PAMA), passenger car sales in Pakistan experienced a significant decline of 65 per cent in January 2023 compared to the same period the previous year. This was attributed to a shortage of raw materials, low purchasing power, and price surges.

    With the exception of Suzuki’s Swift, sales of all other variants of cars, trucks, buses, tractors, pick-ups, and three-wheelers, as well as two-wheelers, also dropped in January 2023.

    The seven-month sales data for FY23 showed a 43 per cent drop compared to the same period last year, with passenger car sales decreasing by 65 per cent to 6,021 units. In January 2023, engine-wise sales data showed that sales of 1,300cc and above cars were recorded at 4,207 units, down 55.5 per cent compared to the same period last year. Additionally, 1,000cc cars recorded sales of 1,214 units, a decrease of 55.2 per cent from the same period the previous year.

    In January 2023, sales of passenger cars with engines less than 1,000cc plummeted to 600 units, down 88 per cent from 4,820 units sold in the same period last year.

    Sales of Suzuki’s new Alto were particularly hard hit, dropping to 44 units from 3,864 units last year, as the company was unable to produce any due to raw material shortages. Commercial vehicle sales were also impacted, with buses and trucks declining to 470 units from 778 units in January 2022.

    Despite this, the sale of jeeps and pickups increased to 4,846 units from 3,625 units sold last year, largely due to an increase in sales of Honda BR-V and HR-V. Tractor sales, on the other hand, decreased to 3,406 units from 4,966 units in January 2022.

    Meanwhile, sales of rickshaws and motorcycles dropped to 109,558 units from 153,658 units in the same period last year. According to Topline Securities, Pakistan’s overall car sales, including those of non-PAMA members, stood at around 11,500 units, down 37 per cent from the previous month, primarily due to Pak Suzuki’s inability to produce due to the non-availability of CKD parts.

    In January 2023, the automotive industry in Pakistan experienced a 47 per cent year-on-year drop in sales, contributing to a 39 per cent decline in sales for the first seven months of FY23. According to Sunny Kumar, an analyst for Topline Securities, this is due to rising car prices, costly auto financing, and limited consumer purchasing power.

    Pak Suzuki (PSMC) was hit particularly hard, with sales falling to 2,946 units, the lowest level since April 2020, largely due to a credit letters issue. In contrast, Hyundai sales increased 81 per cent month-on-month, with Tuscon sales up 69 per cent and Sonata sales up 241 per cent in January 2023. In the tractor sector, Millat Tractors and Al-Ghazi Tractors recorded increased sales in January 2023 compared to the previous month.

    However, the industry’s overall sales have dropped by 53 per cent YoY to 14,919 units in 7MFY23, affected by floods, plant shutdowns, higher prices, and low consumer purchasing power.

  • Pak Suzuki increases motorcycle prices by up to Rs25,000

    Pak Suzuki increases motorcycle prices by up to Rs25,000

    Pak Suzuki Motor Company Ltd. (PSMCL) has increased motorcycle prices by Rs20,000-25,000, effective February 1st.

    The new rate for GD110 S, GS150, GSX125, and GR150 is Rs264,000, Rs286,000, Rs384,000, and Rs410,000.

    However, the company’s communication to authorised dealers lacked any explanation for the price increase.

    PSMCL had temporarily ceased taking new bike orders as of January 20 due to supply chain constraints based on imports and unpredictable production capacity in the current economic climate.

    Read more: Latest Suzuki car prices

    Pak Suzuki has been enjoying a smooth journey, recording sales of 20,762 units in FY23 compared to 18,030 at the same time last fiscal year, as sales of all two-wheeler assemblers have remained flat due to rising prices, quality problems, and affordability difficulties.

    The assembler of Hi-Speed motorcycles has also increased the rate by Rs25,000 of 150cc Infinity and 200cc Freedom followed by a Rs2,500-Rs3,500 hike in 70cc-125cc motorcycles.

  • Suzuki Swift GLX now costs more than Rs4.1 million after recent price hike of Rs355,000

    Suzuki Swift GLX now costs more than Rs4.1 million after recent price hike of Rs355,000

    As expected, Pak Suzuki Motor Company (PSMC) has announced a price hike for all cars after Toyota Indus Motor Company (IMC) and Honda Atlas Cars Limited (HACL).

    The revised retail sale prices will come into effect from January 25, 2023, according to PSMC.

    Here are the new prices:

    Model Old Price (Rs) New Price (Rs) Increase (Rs)
    Alto VX 1,699,000 1,859,000 160,000
    Alto VXR  1,976,000 2,156,000 180,000
    Alto VXR AGS  2,120,000 2,310,000 190,000
    Alto AGS 2,223,000 2,423,000 200,000
    Wagon R VXR  2,421,000 2,629,000 208,000
    Wagon R VXL  2,564,000 2,789,000 225,000
    Wagon R AGS  2,802,000 3,059,000 257,000
    Cultus VXR  2,754,000 3,039,000 285,000
    Cultus VXL  3,024,000 3,339,000 315,000
    Cultus AGS  3,234,000 3,569,000 335,000
    Swift GL MT 3,180,000 3,479,000 299,000
    Swift GL CVT 3,420,000 3,742,000 322,000
    Swift GLX CVT 3,760,000 4,115,000 355,000
    Ravi  1,424,000 1,539,000 115,000
    Ravi w/o Deck  1,349,000 1,464,000 115,000
    Bolan Van  1,500,000 1,619,000 119,000
    Bolan Cargo 1,487,000 1,606,000 119,000

    Surprisingly, the automaker has announced the highest price increase for its flagship hatchback, the Suzuki Swift GLX variant, which will now be sold for Rs4.115 million, a Rs355,000 increase from its previous price of Rs3.760 million. 

    Read more: Honda cars latest prices

    According to the notification from PSMC, the revised retail prices include the FED and sales tax but exclude advance income tax, with another condition that the prices are subject to change without notice at the time of delivery.

  • ‘We are unable to serve new customers’: Pak Suzuki announces booking suspension for all motorcycles

    ‘We are unable to serve new customers’: Pak Suzuki announces booking suspension for all motorcycles

    Pak Suzuki Motor Company (PSMC) stated on Thursday that it had halted taking reservations for motorbikes until further notice due to issues with manufacturing and procurement following the consecutive closures of its automobile assembling factories caused by an ongoing inventory crisis.

    “Under the present economic circumstances, import-based supply chain constraints and uncertain production possibilities, we are unable to serve new customers,” the company said in a letter to dealers.

    The suspension of reservations would start today.

    “We will, therefore, stop bookings of our motorcycle products from January 20, 2023, for the time being. However, bookings will resume as the situation becomes favourable to serve fresh customers.”

    With the rupee falling and inflation at decades-high levels, Pakistan’s economy has collapsed along with a simmering political crisis, but disastrous floods and a worldwide energy crisis have added to the strain.

    Almost all industries, including the automotive sector, have been slowed down by a lack of imported components and materials, and an alarmingly large number of businesses have been forced to cease operations.

    As Pakistan struggles with a dire foreign exchange crisis, thousands of containers filled with basic food supplies, raw materials, and medical equipment have been held up at the Karachi port.

    According to Express Tribune, banks are refusing to issue fresh letters of credit for importers due to a shortage of needed dollars, which is hurting an economy already under pressure from high inflation and weak growth.

  • Suzuki to halt car and bike production in January 2023 due to parts shortage

    Suzuki to halt car and bike production in January 2023 due to parts shortage

    Following in the footsteps of Toyota Indus Motor Company (IMC), Pak Suzuki Motor Company (PSMC) has said that its production facility will be totally shut down from January 2 to 6, as a result of a ban on the import of auto parts.

    The automaker, in a notice sent to the Pakistan Stock Exchange (PSX), said that the State Bank of Pakistan (SBP) has introduced a mechanism for prior approval for import under “HS code 8703 category (including completely knocked down – CKDs) vide circular No.09 of 2022 dated May 20, 2022”.

    “Restrictions had adversely impacted clearance of import consignment which resultantly affected the inventory levels.”

    “Therefore, due to shortage of inventory level, the management of the company has decided to shut down its plant for the automobile as well as a motorcycle for the period from January 2 to January 6, 2023,” PSMC said.

    It is important to note that this is not the first time that Suzuki, one of the country’s top-selling automakers, has closed a production facility. Several shutdowns have already been announced in 2022 by some well-known automakers, including Honda and Toyota.

    PSMC is involved in the assembly, progressive manufacturing, marketing, and distribution of Suzuki vehicles, pickup trucks, vans, 4x4s, motorcycles, and associated spare parts.

    According to Geo, due to the central bank’s limits on the opening of letters of credit (LCs) as a result of a severe liquidity crunch, Pakistan’s car sector, which is heavily dependent on imports, is currently experiencing serious difficulties.