Pak Suzuki Motor Company (PSMC) has gone on to announce a rather huge price hike for a few of their passenger cars. Among the cars whose prices have been revised, are 2 variants of the Suzuki Alto and Wagon R and all variants of the Suzuki Swift.
As per the notification issued by the automaker to the dealerships, the following prices shall become effective from the 15th of October, 2020:
|Vehicles||Current Price (PKR)||Revised Price (PKR)||Price Increase (PKR)|
|Wagon R VXR||1,598,000||1,640,000||42,000|
|Wagon R VXL||1,695,000||1,730,000||35,000|
PSMC has announced 6 price hikes for a variety of its products over the past 10 months. The first price hike took place on January 1st, 2020, where prices of the entire PSMC car lineup, were revised.
The 2nd price bump came about on July 2nd, 2020, in which, PSMC bumped up the prices of the entire bike lineup. The 3rd price bump came on July 6th, for the new Suzuki Alto. The 4th price hike was announced a couple of months ago for the Bolan & Ravi and the 5th price hike happened last month when all the bike prices were revised.
This is despite the fact that PSMC has faced a rather significant 20% decline in sales compared to September of last year, as per the data shared by the Pakistan Automotive Manufacturer’s Association (PAMA). It is also pertinent to mention that PSMC has been observing a Year on Year (YoY) sales decrease for the past 2 months.
Again, one of the most probable reasons for the decrease in sales – along with multiple price hikes – could also be the staleness of the lineup. To that end, however, PSMC might just have something in store for us because about a couple of months ago, PSMC reportedly announced that they shall be discontinuing the 2nd Gen Swift in Pakistan by August 2021.
Speculations are being made following that news whether PSMC would introduce the 3rd Gen Swift in Pakistan or the latest 4th Gen Swift that has debut all across the international market. Whatever the case may be, the change in the lineup would certainly be welcome.