Following the federal government’s decision to increase sales tax from 18% to 25% on locally manufactured vehicles that cost more than Rs. 4 million, Pak Suzuki has become the first manufacturer to increase its price.
In a notification on Monday, the company announced a Rs. 304,000 increase in the price of Swift GLX CVT. After the latest price hike, GLX CVT now costs Rs. 5,429,000.
It is pertinent to mention that this is the second time in the last two weeks that the company has increased the price of Swift GLX CVT. Earlier on February 29, its price had been increased by Rs. 85,000.
Furthermore, the prices of other variants, including Alto VX, Alto VXR, Alto VXR AGS, Alto VXL AGS, Suzuki Cultus AGS, and Suzuki Swift GL MT have also been increased.
Pak Suzuki’s Head of Corporate Affairs, Shafiq Ahmed Sheikh, stated that the inflation, increased overhead expenses, increased international raw material and accessories costs, and shipment/freight costs have made it very difficult for Pak Suzuki to maintain the current selling prices.
Other auto manufacturers are also expected to increase their prices in the coming days following the 7% increase in sales tax.
