With the US dollar rate at an all-time high and in a volatile state, automakers are likely planning to increase car prices very soon. However, cognizant of the fact that more price hikes could further diminish the demand, they are also offering various benefits to lure in more customers.
Pak Suzuki Motor Company (PSMC) has launched a price lock offer on all new bookings made in September 2023. The offer is also available on all models except the Suzuki Alto VX and Cultus VXR, which are two of its best-selling cars.
The company is also offering a free registration offer on the new Suzuki Cultus, and WagonR, and a Rs. 150,000 exchange bonus on the new Suzuki Swift.
Price Hikes Incoming?
While these benefits are promising for new car buyers, they also signal the arrival of a new price hike wave. The dollar rate has been climbing continuously since August. Currently, it is unknown when this steady rise will come to a halt.
Because the Pakistani car industry is still heavily dependent on imports, carmakers are struggling to maintain prices in the current economy. Therefore, it is only a matter of ‘when’ rather than ‘if’ the carmakers will increase the prices, with all signs saying ‘very soon’.
