Pak Suzuki Motor Company Limited (PSMC) has increased the prices of its bikes for the 4th time this year. The 1st price hike occurred back in January, the 2nd came in July, the third one happened a couple of months ago, and the latest one happens to be the 4th.
Previously, the automaker cited the depreciating local currency and the COVID-19 induced drop in the sales to be the reason for the price bump to meet the operational expenses. However, the business has picked up in recent months following the easing of lockdowns and so has the value of the local currency, yet the prices continue to go up.
Following are the new prices for PSMC’s entire bikes lineup:
|Model||Old Prices (Rs.)||Revised Prices (Rs.)||Price Increase (Rs.)|
It bears mentioning that PSMC has recorded a quarterly loss in the 3rd quarter of 2020, marking it to be their 8th consecutive quarterly loss. Also, as per the monthly report shared by Pakistan Automotive Manufacturers Association (PAMA), PSMC has been recording poor sales figures on a year-on-year (YoY) basis for the past 2 months and in September, one of their hottest selling cars i.e. the Cultus recorded a massive sales decline of 29% on a Month on Month (MoM) basis and 44% on a YoY basis.
In the bike segment, Atlas Honda remains the undisputed king in terms of sales figures, whereas Yamaha is also faring well, although official sales figures are not yet known. PSMC, with its limited product lineup and sky-high prices, continues to struggle to establish itself as a strong competitor for Honda and Yamaha.