Suzuki is set to increase prices of its entire lineup again this year. Starting today, retail prices will see a price hike of up to Rs. 30,000. This will be the third time this year that the auto assembler will jack up prices in response to the rupee’s devaluation.
The company has already sent a notice to its dealerships with the updated prices, notifying that the new prices will be in effect starting 1st of June, 2018. As seen on the company’s official circular, an underlined note below the price table reads,
The price hold will not be considered for old pending orders who have failed to deposit their balance payment within due date.
Old Prices Vs New
|Model||Old price (Rs.)||New price (Rs.)|
|Wagon R VXL||1,164,000||1,194,000|
|Wagon R VXR||1,074,000||1,104,000|
All prices are ex-factory, and have been jacked up by Rs. 30,000. The company reported its previous price bump 3 months ago, and just like before, the new price increase is also being attributed to the Pakistani rupee’s falling value against USD.
The company says that its import cost for raw material and other components significantly increases when the rupee’s value falls. Due to this, the company has to incur extra costs to assemble a unit before selling it to consumers as they import most of their components instead of producing them locally.
Just like before, other local assemblers including Toyota Indus, Honda Pakistan, and Al-Haj FAW are highly likely to follow suit.