Pak Suzuki increases car prices 'owing to mini-budget'

Pak Suzuki Motor Company (PSMC) increased prices across its passenger car line-up, confirmed the company in a response to Business Recorder on Wednesday, attributing the hike to the recent ‘mini-budget’.

“Due to the recent mini budget, the government increased different taxes on almost all variants, so Pak Suzuki has increased only those taxes,” a company statement said.

“The Pakistan Automotive Manufacturers Association (PAMA) has requested concerned authorities for exemption with reference to pending orders up to date of approval of mini budget. A reply is awaited,” added PSMC, referring to deliveries that are being made currently.

Suzuki’s Cultus AGS variant saw the biggest hike of Rs150,000. Its price is now Rs2,422,000.

Following are the revised retail prices (exclusive of Advance Income Tax) of Suzuki vehicles:

Suzuki Alto

Alto VX saw a price hike of Rs32,000. The new price is Rs1,306,000 against the old one of Rs1,274,000.

The price of Alto VXR has increased by Rs38,000. The car now costs Rs1,546,000, compared to the old price of Rs1,508,000.

With a Rs43,000-hike, the price of Alto VXL/AGS has surged to Rs1,747,000 from Rs1,704,000.

Suzuki Cultus

Cultus AGS has seen the biggest price jump of Rs150,000, taking its price tag from Rs2,272,000 to Rs2,422,000. Cultus VXR has gone from Rs1,904,000 to Rs2,030,000, after a hike of Rs126,000.

Similarly, the new price of Cultus VXL is Rs2,244,000, against the old rate of Rs2,105,000, a hike of Rs139,000.

Suzuki Wagon R

The Wagon R AGS has seen a surge of Rs134,000, taking its price from Rs2,024,000 to Rs2,158,000.

The price of Wagon R VXR has gone up by Rs117,000. It now costs Rs1,877,000, compared to the old rate of Rs1,760,000. Wagon R VXL has seen an increase of Rs123,000. The new price is Rs1,975,000 against the old rate of Rs1,852,000.

Suzuki Bolan

Bolan VX, which saw an increase of Rs29,000, is now priced at Rs1,178,000 from the old rate of Rs1,149,000.

Booking times

Meanwhile, different dealers Business Recorder reached out to said the booking time for Alto VX is a tentative 150 days. For the Alto VXR variant as well as for all models of Wagon R, the booking time is 120 days. The Ravi and Bolan models are tentatively being delivered in two months.

However, market talk suggests that booking of Alto AGS and Cultus is temporarily suspended.

Sales in 2021

PSMC witnessed the highest ever monthly sales of 15,503 units during December, up 82% MoM and 104% YoY. Cumulatively, during CY21, sales were up by 108% YoY to 122,799 units. Suzuki Alto emerged as the top-selling car as it went from 2,954 units sold in December 2020 to 9,195 units sold in December 2021, an increase of 211% YoY.

Pak Suzuki, Honda Atlas become latest car assemblers to increase prices

The company last announced a price-increase in November.