The price hike storm is far from over, following Pak Suzuki Motor Company’s (PSMC) second price hike within two weeks.
As per the ongoing trend, Pak Suzuki has cited mounting inflation and local currency depreciation as the culprits for the price increase. With immediate effect, the revised car prices are as follows:
Variants | Old Price (Rs.) | New Price (Rs.) | Increase (Rs.) |
Alto | |||
Alto VX | 2,034,000 | 2,144,000 | 110,000 |
Alto VXR | 2,359,000 | 2,487,000 | 128,000 |
Alto VXR AGS | 2,528,000 | 2,665,000 | 137,000 |
Alto VXL AGS | 2,615,000 | 2,795,000 | 144,000 |
Wagon R | |||
Wagon R VXR | 2,877,000 | 3,062,000 | 185,000 |
Wagon R VXL | 3,052,000 | 3,248,000 | 196,000 |
Wagon R AGS | 3,348,000 | 3,563,000 | 215,000 |
Cultus | |||
Cultus VXR | 3,326,000 | 3,540,000 | 214,000 |
Cultus VXL | 3,654,000 | 3,889,000 | 235,000 |
Cultus AGS | 3,906,000 | 4,157,000 | 251,000 |
Swift | |||
Swift GL M/T | 3,807,000 | 4,052,000 | 245,000 |
Swift GL CVT | 4,092,000 | 4,335,000 | 263,000 |
Swift GLX CVT | 4,462,000 | 4,725,000 | 263,000 |
Bolan | |||
Bolan VX | 1,754,000 | 1,852,000 | 92,000 |
With these new prices, Suzuki’s cars have become ridiculously expensive. Swift, in particular, has entered the small crossover territory, with a price that’s just Rs. 85,000 shy of a base Kia Stonic.
Last week, the automaker announced another production halt due to the ongoing economic situation and inventory shortage. More non-production days imply further sales decline. That, coupled with the recent price hike, may cause Pak Suzuki to lose a significant chunk of its market share.