Pakistan Suzuki Motors announced to increase prices of cars by 40,000 PKR. This is the fifth price increase of the year the Japanese automobile company.
The new price will come into effect from 1st November 2018. The prices of Suzuki Mehran, Ravi and Bolan will remain unaffected due to its lesser demand and recent decrease in sales.
The decision of the prices revision has been made on the premises of recent Rupee devaluation against the dollar. Pak Suzuki motors increased prices in the range of 30,000 to 40,000 depending on the car model and specification.
According to the report submitted by Pak Suzuki,
The company’s profit is down by 91% in the 3rd quarter that ended on 30th September 2018, whereas in the same quarter of the corresponding year, it made a profit of PKR 1.10 billion. The volumetric sales of the company also dropped by 10% as compared to the previous year’s quarter that ended in September.
Here are the Price Revision of Suzuki;
Model Old Price New Price
Other than Suzuki, Atlas Honda and Indus Motors have also increased the prices for the third time in 2018 following the repercussion of rupee devaluation. Atlas Honda increased prices in the range of 100,000 to 215,000 PKR, depending on the variant, similarly Indus motor increased the car prices in the range of 50,000 to 175,000 PKR.
The rupee devaluation blows a wave of inflation not only in the automobile sector but in the other product as well including FMCG and petroleum. The price of rupee has been depreciated by 26% since December 2017 and it is expected to depreciate even more in the coming days.