Tag: suzuki cultus

  • 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.