- Pak Suzuki increased prices of its four models by Rs 3,000, as the company reports its 8th consecutive quarter in a loss last month
Pak Suzuki has increased the prices of its four models by Rs.3,000. These new prices came into effect on the 1st of November, 2020.
According to a notification issued by the company the new price of GD110s is Rs.181,000, while the price for GR 150 has also increased to Rs.284,000.
Moreover, a hike of Rs.3000 also increased GS 150‘s price to Rs.193,000. The new price for GS 150SE is also recorded at Rs.210,000.
Moreover, these new prices are inclusive of ex-factory and freight charges. However, the company has indicated that they are subject to change without any notice.
While this is the fourth time Pak Suzuki has increased prices for its bikes this year, the company has not provided any specific reason behind this increase.
However, the company's financials offer an explanation for these recent price increases. Pak Suzuki reported its 8th consecutive quarter in a loss last month. The company has witnessed a fall in its sales revenue due to its discontinuation of Mehran and low sales for Alto.
In the third quarter of 2020, the company witnessed a 12% decline in its revenue as compared to the same period last year. Its revenue were valued at Rs.22.60 billion in this quarter.
Moreover, the number of units the Pak Suzuki sold in this quarter also fell by 5662 to17,485 units.
Pak Suzuki also faces competition from new competitors such as KIA Picanto and domestic players like United Bravo and Prince Pearl in the 1000cc and 800cc category.