Tag: suzuki

  • Pakistan’s auto sector witnesses 39% increase in car sales in November

    Pakistan’s auto sector witnesses 39% increase in car sales in November

    According to data from the Pakistan Automotive Manufacturers Association, sales of passenger cars increased slightly in November 2022 compared to the same month in 2021.

    Analysts anticipate more improvement in the upcoming months due to the better availability of raw materials for the automakers following an increase in the issue of letters of credit. In percentage terms, the increase was 39 per cent month over month.

    According to The News, sales of all other models of cars, lorries, buses, tractors, jeeps, pick-ups, three-wheelers, and two-wheelers, other than the Suzuki Alto, decreased in November 2022 compared to November 2021.

    On the other hand, compared to the 90,303 units sold during the same period last year, car sales fell by 39 per cent in the first five months of FY23 to 55,144 units.

    According to PAMA data, there were 15,444 passenger car sales in November 22 as opposed to 15,351 in the same month last year, a rise of 0.60 per cent or 93 units. In November 2022, sales jumped from 11,129 units sold in October 2022 by 39 per cent, or 4,315 units.

    Sales of cars with 1300cc displacement or more were reported at 5,831 units during this time period, a 28 per cent decrease from the 8,102 units sold during the same period the previous year.

    Compared to 3,641 units sold during the same month last year, 1,854 units of 1000cc automobiles were sold in November 2022 (1,136 units of the Suzuki Cultus and 718 units of the Suzuki WagonR).

    Sales of sub-1 000cc cars were 7,759 units, an increase of 4,150 units, or 115 per cent, over the 3,609 units sold the previous year.

    Sales of the new Suzuki Alto were astounding, reaching 7,255 units, a 282 per cent increase over the 2,420 units sold the year before.

    Bus and truck sales dropped from 532 units in November 2021 to 342 units in November 2022. Jeep and pickup truck sales decreased from 3,363 vehicles sold during the same period last year to 2,947 units sold in 2022.

    Tractor sales, on the other hand, decreased from 4,617 units in November of last year to 1,240 units last November. In November 2022, 110,529 motorbikes and rickshaws were sold, compared to 166,731 in the same month the previous year.

    According to a Topline Securities study, Pakistan’s overall automobile sales were roughly 20,000 units, up 35 per cent month-over-month, mainly because CKD parts were more readily available in November 2022 than they were in October 2022, which increased output.

    In November 2022, Pak Suzuki reported a growth of 55 per cent month over month to 12,400 units, followed by Honda Cars’ increase of 38 per cent month over month to 1,973 units.

  • Suzuki resumes Swift GLX CVT bookings ‘for a limited time only’

    Suzuki resumes Swift GLX CVT bookings ‘for a limited time only’

    Production and sales at Pak Suzuki Motor Company (PSMC) are picking up speed. The automaker just announced the reopening of bookings for its overall lineup of vehicles on its official Facebook page.

    The best kei car-selling company is also accepting reservations for the Suzuki Swift’s top and most expensive GLX CVT model, according to Pak Suzuki’s official Facebook page. Without providing a specific date, the automaker claimed that the offer is only valid for a short period of time.

    Sales for PSMC also slightly increased last month. This, along with the aforementioned factors, may signal the company’s turnaround from a protracted slump. Even so, the Swift GLX CVT’s Rs3.76 million price tag makes it difficult to sell.

    The new Swift GL CVT Limited Edition model sits below the GLX CVT model and offers a few extra conveniences over the GL CVT model. These features include a center armrest between the passenger seats and a rear top spoiler.

    The Limited Edition variant of Swift costs Rs3,450,000, which is only Rs30,000 more than the Swift GL CVT standard model. The increased cost represents a premium for the added improvements in the Limited Edition variant.

  • Pakistanis pay about Rs800,000 more for a Suzuki Alto than Indians

    Pakistanis pay about Rs800,000 more for a Suzuki Alto than Indians

    Shockingly, the base variant of the Suzuki Alto costs PKR 922,000 (INR 339,000) in India, whereas Pak Suzuki Motor Company, Pakistan’s Suzuki vehicle manufacturer, offers the older model of the Suzuki Alto for a starting price of Rs1.7 million.

    The 0.8-liter petrol engine in the Indian Alto 800 produces 48 PS and 69 Nm and is connected to a five-speed manual transmission. When using CNG, the output drops to 41 ps and 60 nm. The vehicle’s quoted mileage is 31.59 km/kg for CNG and 22.05 km per litre for petrol.

    On the other hand, Pakistani Alto is powered by a 3-cylinder 658 cc R06A petrol engine mated to either a 5-speed manual or auto gear shift (AGS) transmission. The variant we are talking about is the manual base variant. The hatchback offers a maximum output power of 39hp at 6500 rpm and a torque of 56 Nm at 4000 rpm. With a compression ratio of 10:1, it comes with a multi-point injection system. The Suzuki Alto offers seating for four adults and a fuel capacity of 27 litres.

    When comparing the Indian Alto to the Pak Suzuki-produced Alto, the Indian Alto appears to have greater power because it has a larger engine, more torque, and costs less.

    It is worth noting that despite its hefty price tag Suzuki Alto is also Pakistan’s most-selling car currently as it is the only mini hatchback sold below Rs2 million from a prominent automaker.

  • Pakistanis buying 47% fewer cars due to rising prices

    Pakistanis buying 47% fewer cars due to rising prices

    Despite an increase from month to month in October, the total number of cars sold fell by 47 per cent to 39,700 units in 4MFY23 from 74,952 units as a result of increased prices, restrictions on auto financing and part imports, and high interest rates.

    However, the number of cars sold in October increased to 11,129 from 9,213 in September, a significant decrease from the 17,413 sold in October 2021.

    Assemblers have been allowed to hand over automobiles after the release of auto parts from the port as a result of the State Bank’s decision to increase the import quota, which led to a recovery in car sales as well as production in October.

    Honda Civic/City sales decreased to 6,416 units in 4MFY23 from 10,444 units during the same period in FY22, while Toyota Corolla and Yaris sales significantly decreased to 8,253 units from 19,214 units. Sales of the Suzuki Cultus and WagonR decreased from 11,454 to 6,779 units to 2,952 and 2,181 respectively. Sales of the Suzuki Bolan and Alto were unchanged at 1,469 and 13,464 units, compared to 4,012 and 20,773 units in 4MFY22.

    Jeep and pickup sales decreased by 45 percent, from 14,969 units in the same period last fiscal year to 8,234 units in July-October FY23.

    Additionally, the total number of tractors sold decreased by 47 per cent, from 17,386 units to 9,258 units, indicating a decline in agricultural activity.

    Compared to 2,011 and 184 units sold in 4MFY22, trucks and buses showed sales of 1,109 and 210 units, respectively.

    Sales of two and three-wheelers in the country fell dramatically, from 629,212 units in the same period last year to 412,111 units in the first four months of the current fiscal year.

  • Google, Suzuki donate millions to flood-affectees

    Google, Suzuki donate millions to flood-affectees

    Tech giant Google has announced that it will donate $500,000 (Rs110 million) for flood relief efforts in Pakistan.

    Google Southeast Asia Vice President Stephanie Davis posted on LinkedIn that the tech giant would donate the amount to the Centre for Disaster Philanthropy through Google.org.

    In a post, she wrote: “Our hearts go out to each and everyone impacted by the ongoing floods in Pakistan. Even when faced with the fear of having their homes washed away and vital farmland destroyed, we have also witnessed Pakistanis and communities coming together to help each other. We are inspired by their bravery, and we want to help.”

    She added that the company would find more ways to help Pakistan through its tools and resources.

    Separately, Google’s Regional Head for South Asian Frontier Markets Farhan Qureshi said Google employees have contributed over Rs72 million so far in personal donations and company matches.

    Earlier this week, Apple Chief Executive Officer Tim Cook said his company would donate to relief and recovery efforts on the ground.

    “The floods in Pakistan and surrounding areas are devastating humanitarian disasters. Our thoughts are with those that have lost loved ones, the many displaced families, and all those affected,” he tweeted.

    Suzuki has also decided to offer aid to Pakistan in support of the flood victims. According to an official notification, the company will offer a relief fund of 10 million Japanese Yen (Rs15.6 million).

    Water levels continued to rise on Friday as the overall death toll from the devastating floods has crossed 1,200.

  • 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.

  • Getting a new car? Check out the new advance tax imposed on your favourite vehicle

    Getting a new car? Check out the new advance tax imposed on your favourite vehicle

    The government has released the fiscal budget for 2022-23, which includes several changes, including a 200 per cent advance tax on the purchase of cars with engine displacements greater than 1600cc for non-filers.

    This decision is likely to possess a considerable effect on the sales of several cars in Pakistan, which have already witnessed multiple price hikes in previous months. The tax amount for non-filers has now been doubled, which will have an influence on new car sales, particularly those with larger engines.

    The advance tax will now be applicable to several famous vehicles that have dominated the auto industry for years now from well-known manufacturers, including old players like Honda and Toyota, as well as new players like Hyundai, Kia, DFSK and BAIC.

    Taxes for filer and non-filer

    Toyota Corolla Altis Grande, 1800cc, ranges from Rs4,499,000-4,859,000, Tax for filer: Rs150,000, Tax for non-filer: Rs300,000

    Hyundai Elantra GLS, 2000cc, priced at Rs4,949,000, Tax for filer: Rs200,000, Tax for non-filer: Rs400,000

    Hyundai Tucson, 2000cc, ranges from Rs5,799,000-6,299,000, Tax for filer: Rs200,000, Tax for non-filer: Rs400,000

    Hyundai Sonata 2.0, 2000cc, priced at Rs6,999,000, Tax for filer: Rs200,000, Tax for non-filer: Rs400,000

    DFSK Glory 1.8 CVT, 1800cc, priced at Rs5,159,000, Tax for filer: Rs150,000, Tax for non-filer: Rs300,000

    Kia Sportage, 2000cc, priced at Rs5,300,000-6,300,000, Tax for filer: Rs200,000, Tax for non-filer: Rs400,000

    BAIC BJ40, 2000cc, priced at Rs8,199,000, Tax for filer: Rs200,000, Tax for non-filer: Rs400,000

    Hyundai Sonata 2.5, 2500cc, priced at Rs7,849,000, Tax for filer: Rs300,000, Tax for non-filer: Rs600,000

    Kia Sorento, 2400cc, ranges from Rs6,836,000-7,499,000, Tax for filer: Rs300,000, Tax for non-filer: Rs600,000

    Toyota Fortuner, 2700-2800cc, ranges from Rs9,959,000-12,679,000, Tax for filer: Rs400,000, Tax for non-filer: Rs800,000

    Toyota Hilux, 2800cc, ranges from Rs7,359,000-9,729,000, Tax for filer: Rs400,000, Tax for non-filer: Rs800,000

    Isuzu D-Max V-Cross, 3000cc, ranges from Rs6,600,000-6,960,000, Tax for filer: Rs400,000, Tax for non-filer: Rs800,000

    Kia Sorento V6, 3500cc, ranges from Rs7,499,000, Tax for filer: Rs450,000, Tax for non-filer: Rs900,000

    Local vehicle assemblers are dissatisfied with the new budget, claiming that the government unilaterally raised advance tax on motor vehicles larger than 1,600cc because the industry did not propose it. They claim that the decision is also discriminatory and will reduce auto sales.

    Read more: Energy sector to get a massive portion of the Rs699 billion subsidy

    Advance tax on motor vehicles larger than 1600cc has been doubled, while electric vehicles costing Rs5 million or more will be subject to a 3 per cent tax.