Pak Suzuki Motor Company Limited (PSMC) has not announced a reduction in prices at present, its spokesperson confirmed to Business Recorder on Thursday, after the market was abuzz with a notification that the car assembler had followed other companies in decreasing its rates due to rupee’s recent appreciation against the US dollar.

“The news with reference to reduction of prices of Pak Suzuki vehicles is totally and completely wrong and fake,” Shafiq Ahmed Shaikh, Head of Public Relations Pak Suzuki, told Business Recorder via message.

“At present, Pak Suzuki has not reduced the price of any vehicle.”

Earlier, a fake notification – seemingly sent from PSMC to its dealers – claimed the company had reduced car prices by as much as Rs110,000 from October 25.

The development comes after Indus Motor Company, MG Motors, Hyundai and Lucky Motor Corporation (LMC) announced a reduction in prices of their vehicles, which meant the ‘fake notification’ was in line with recent events.

An earlier version of this story, published October 26, 2023, had stated that PSMC reduced car prices. The error is regretted, and has been rectified.