Pak Suzuki Motor Company Limited (PSMCL) has gone on to bump up the prices of their bikes for the 3rd time this year. The last price hike was on the 1st of July, 2020, barely 2 months ago. The last time, the company cited the depreciating currency and the COVID-19 induced slump in the business as the reason for bumping up the prices to meet operational costs.
It bears mentioning that these price bumps aren’t small. The top-of-the-line Suzuki Gixxer 150 sports bike received a price bump of a rather hefty Rs. 20,000 which brings up its price to Rs. 599,000.
As for the company’s top sellers, the GS-150 SE and GR-150, both got a price bump of Rs. 5,000, bringing their price tag up to Rs. 190,000 and Rs. 284,000 respectively. Likewise, the price of the GD-110 S also went up by Rs. 3,000 taking its price up to Rs. 178,000.
PSMC’s 4-wheeled transport wing has already seen a slump of about 40% in the car sales in July 2020 compared to the same time last year. However, the production and sales have had a resurgence after the easing of lockdowns following the decline in the Coronavirus cases.
Atlas Honda still holds the lion’s share of the bike market in Pakistan, as it is the only automaker in the country to have sold just about the same number of bikes as last year, despite COVID-19. And with PMSC bumping up the prices of their bikes by such massive margins, its competition with rivals such as Honda and Yamaha is getting increasingly tough.