Tag: suzuki alto

  • CKD kits shortage forces Pak Suzuki to halt car production

    CKD kits shortage forces Pak Suzuki to halt car production

    Pak Suzuki Motor Company (PSMC) has suspended operations at its Karachi manufacturing plant due to significant delays in the approval of Completely Knocked Down (CKD) kits at the port.

    Reports indicate that the CKD kits have been stranded at the port for the past 45 days, accruing substantial detention and demurrage charges amounting to billions of rupees.

    The approval delays have led to a critical shortage of CKD kits, compelling Pak Suzuki to halt production.

    Automotive associations have called on the government to adhere to the auto policy for 2021-2026, warning that prolonged delays in approving these inputs could negatively impact Pakistan’s auto industry and deter potential foreign investors.

    This development comes on the heels of Pak Suzuki’s recent expansion into exporting vehicles to Bangladesh and Afghanistan. Despite this setback, Pak Suzuki’s CEO, Hiroshi Kawamura, recently inaugurated the Suzuki Vendor Cluster Area.

    In related news, the Pakistan Credit Rating Agency Limited (PACRA) has reaffirmed Pak Suzuki’s credit ratings at “AA-” for long-term and “A1” for short-term, with a stable outlook.

    PACRA’s ratings reflect Pak Suzuki’s strong market position among established auto manufacturers in Pakistan, bolstered by the support of its foreign sponsor, Suzuki Motor Corporation of Japan.

  • Pak Suzuki suffers worst sales decline, sells less than 1,000 cars in February

    Pak Suzuki suffers worst sales decline, sells less than 1,000 cars in February

    Recent reports indicate that Pak Suzuki Motors has experienced a significant decline in sales due to production issues. The company has recorded its worst sales performance in history, mainly because of a shortage of production parts and rising raw material costs.

    Reports reveal that Pak Suzuki sold fewer than 1,000 units in February, marking its worst performance since the country’s COVID-19 lockdowns in April 2020 when production and sales came to a halt. In January, the automaker sold 2,940 vehicles, a significant 74 per cent decrease in monthly sales. This was attributed to the poor sales of the Suzuki Alto, which declined from 6,898 units in December 2022 to 44 units in January 2023.

    The official figures from the Pakistan Automotive Manufacturers Association (PAMA) are yet to arrive, but the total units sold in February are expected to range from the high tens to low hundreds.

    Despite being among the highest-selling automobile brands in the country, Pak Suzuki’s recent sales decline has left it struggling to maintain its position in the fiercely competitive industry. The drop in Suzuki sales is attributed to production part issues, which have caused difficulty in obtaining necessary auto parts due to major supply chain issues caused by the pandemic. As a result, the company has faced a shortage of raw materials and production parts.

    Global inflation has further exacerbated the problem, leading to a rise in the prices of raw materials and an increase in the car prices. This inflation has further contributed to a drop in sales as it has become difficult for the company to access all the required materials.

  • 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.

  • Pak Suzuki extends plant closure due to low inventory

    Pak Suzuki extends plant closure due to low inventory

    The State Bank of Pakistan (SBP) has imposed import restrictions that have negatively impacted the clearance of import consignments, which has in turn affected the inventory levels, according to Pak Suzuki Motor Company (PSMC), which announced on Monday that the shutdown of its auto production plant has been further extended from August 29 to August 31.

    The SBP has instituted a procedure for prior permission for imports within the HS code 8703 category (including CKDs), according to a notice given to the Pakistan Stock Exchange (PSX) by PSMC on May 20, 2022, according to pkrevenue.

    According to PSMC, these restrictions had a negative influence on the import consignment’s clearance, which in turn had an impact on inventory levels.

    PSMC said that it is experiencing a scarcity of inventory. As a result, the company’s management has decided to further extend the auto plant’s shutdown time from August 29, 2022, to August 31, 2022.

    As a result of a decline in inventory levels, PSMC informed the PSX earlier this week that it will halt production of automobiles from August 22 through August 26, 2022.

    However, PSMC stated on both occasions that its motorcycle plant will continue to operate.

    Due to Pakistan’s auto industry’s reliance on imports and the SBP’s limits on Letters of Credit opening as a result of the persistent rupee devaluation, the country is currently experiencing an exchange rate crisis.

    In order to prevent delays in car delivery and future price increases, the manufacturers requested the central bank’s involvement back in July for opening LCs for the import of CKD kits.

    PSMC stated earlier this month that it would lower the pricing of its cars by between Rs75,000 and Rs199,000, citing the strengthening of the rupee versus the US currency. Due to the weakening of the rupee, prices had already climbed significantly in early August.

  • Toyota announces a massive price increase for all vehicles

    Toyota announces a massive price increase for all vehicles

    Toyota Indus Motor Company (IMC) has announced a massive price increase for all of its completely knocked down (CKD) units.

    Here are the new prices:

    Model Old Price (Rs) New Price (Rs) Total Increase (Rs)
    Toyota Yaris
    1.3 Gli M/T 3,039,000 3,799,000 760,000
    1.3 Gli CVT 3,249,000 4,039,000 790,000
    1.3 ATIV M/T 3,209,000 3,999,000 790,000
    1.3 ATIV CVT 3,379,000 4,209,000 830,000
    1.5 ATIV X M/T 3,449,000 4,309,000 860,000
    1.5 ATIV X CVT 3,659,000 4,569,000 910,000
    Toyota Corolla
    Altis 1.6 M/T 3,909,000 4,899,000 990,000
    Altis 1.6 A/T 4,099,000 5,139,000 1,040,000
    Altis SE 1.6 A/T 4,509,000 5,639,000 1,130,000
    Altis 1.8 CVT 4,499,000 5,679,000 1,180,000
    Altis 1.8 Grande CVT Beige Interior 4,859,000 6,149,000 1,290,000
    Altis 1.8 Grande CVT Black Interior 4,899,000 6,189,000 1,290,000
    Toyota Hilux
    Revo G 2.8 M/T 7,989,000 9,819,000 1,830,000
    Revo G 2.8 A/T 8,379,000 10,299,000 1,920,000
    Revo V 2.8 A/T 9,229,000 11,349,000 2,120,000
    Revo Rocco 9,729,000 11,999,000 2,270,000
    Toyota Fortuner
    Fortuner G A/T 9,959,000 12,489,000 2,530,000
    Fortuner V A/T 11,459,000 14,279,000 2,820,000
    Fortuner Sigma 4 A/T 12,039,000 15,069,000 3,030,000
    Fortuner Legender 12,679,000 15,839,000 3,160,000
    Latest Toyota Price List

    After declining for 10 straight sessions in the interbank market as the country’s foreign exchange reserves continued to shrink, the Pakistani rupee managed to make a small gain of a few paisas against the US dollar.

    Read more: Cheapest new cars in Pakistan

    The ongoing depreciation of the local currency has shown a significant negative impact on the purchasing power of the masses.

  • Pak Suzuki may discontinue Cultus to promote new Swift

    Pak Suzuki may discontinue Cultus to promote new Swift

    One of Pak Suzuki Motor Company’s (PSMC) best-selling vehicles, Suzuki Cultus, will reportedly no longer be produced. According to reports, all variants of the hatchback will be officially phased out in the upcoming months.

    According to Pakwheels, Alto and Swift sales had an impact on Cultus sales, and the company intended to actively promote Swift while boosting Alto sales.

    If the rumours are true, it may be terrible news for those who adore this tiny hatchback since Cultus has long held the top spot in the 1,000cc category.

    According to information from the Pakistan Automotive Manufacturers Association (PAMA), PSMC sold more than 9,800 Alto in March of this year. In April, the amount fell to 5,000. In May, sales slightly increased to about 5,400.

    It is also worth noting that PSMC has not made any public statements about the development. Once the business issues a formal statement regarding this, PSMC’s response will be added.

    The current generation of Suzuki Cultus was introduced in 2017. The hatchback is available in three variations from PSMC: VX, VXR, and VXL. Since its debut, Cultus has dominated the 1,000cc segment of the home market due to its compact size and impressive fuel economy.

    It is still too early to tell if these rumours are true, as several reports from last month that Pak Suzuki was preparing to reintroduce the Mehran turned out to be false after The Current obtained confirmation from numerous dealerships.

  • Pak Suzuki records 62 per cent increase in sales

    Pak Suzuki records 62 per cent increase in sales

    Following the launch of multiple new models in the local auto market, the demand for cars has increased significantly since COVID-19.

    According to a Business Recorder report, volumetric sales in the auto industry have increased significantly Year Over Year (YOY) through the eleventh month of the fiscal year 2022 (11MFY2022).

    According to the data, around 270,000 auto sales were made in the 11MFY2022. It also notes that Kia, Changan, and other new automakers’ sales are not included in these numbers. When their sales are taken into consideration, the total rises to almost 300,000 units.

    With over 130,000 units sold and YoY growth of 62 percent, Pak Suzuki Motor Company (PSMC) continues to be in the lead. With almost 60,000 units sold and a YoY growth rate of 59 per cent, Toyota comes in second. Honda ranks third with over 30,000 units sold and YoY growth of 37 per cent.

    Despite the fact that sales have been steady over the previous year, they are projected to start declining in the second quarter (Q2) of FY2023. The automakers also forecast a drop in sales of up to 25 per cent, citing escalating shipping, gasoline, and raw material costs as well as the consequent pricing hikes.

    Conversely, many experts predict that pre-booked orders would help sales stay robust through Q1 FY2023. It would be fascinating to observe how the sales perform in Q3 FY2023 or Q4 FY2023, according to experts, as that is when the rise in automobile and gasoline prices will really start to have an impact on demand.