Pak Suzuki Motor Company (PSMC) has announced to increase the prices of its different models by up to Rs. 180,000 in a notification on February 29.
The auto manufacturer increased the prices of the 660cc Suzuki Alto variants by up to Rs 110,000. Following the price hike, Alto VX now costs Rs. 2,331,000, Alto VXR costs Rs. 2,707,000, Alto VXR AGS costs Rs. 2,894,000, and the Alto VXL AGS Rs. 3,045,000.
Suzuki Cultus AGS has experienced the biggest price increase of Rs. 180,000 and its new price is Rs. 4,546,000. Similarly, the prices of Suzuki Swift GL MT and Swift GLX CVT have been increased by Rs. 85,000.
In a statement, Pak Suzuki’s Head of Corporate Affairs, Shafiq Ahmed Sheikh, said that despite the closure of its production plant and various other factors, the company had not increased prices for almost a year.
“Keeping in view the inflation, increased overhead expenses, increased international raw material and accessories costs, and shipment/freight costs, this situation has made it very difficult for Pak Suzuki to maintain the current selling prices,” he added.
“Additionally, especially due to the Red Sea issue, which is beyond our control, it is a very critical time for Pak Suzuki to control prices due to the significant increase in freight expenses and still there is no future information regarding how much longer this matter will persist,” he continued.
Shafiq further stated that the company is compelled to pass on a very minimal portion of this adverse impact through price increases on some of its products. However, according to the Pak Suzuki official, the major portion of the increased burden will still be borne by the company.