On February 29, Pak Suzuki Motor Company (PSMC) announced a price hike of up to Rs. 180,000 for various models.
The 660cc Suzuki Alto variants witnessed an increase of up to Rs. 110,000. Consequently, the prices for Alto VX, Alto VXR, Alto VXR AGS, and Alto VXL AGS stand at Rs. 2,331,000, Rs. 2,707,000, Rs. 2,894,000, and Rs. 3,045,000 respectively.
Suzuki Cultus AGS saw the largest price surge, rising by Rs. 180,000 to reach Rs. 4,546,000. Similarly, the prices for Suzuki Swift GL MT and Swift GLX CVT have been raised by Rs. 85,000.
Shafiq Ahmed Sheikh, Head of Corporate Affairs at Pak Suzuki, explained that despite facing challenges such as plant closures and other factors, the company refrained from raising prices for nearly a year. However, factors like inflation, increased overhead expenses, rising international raw material and accessory costs, and heightened shipment/freight expenses compelled the company to revise its pricing.
Moreover, Sheikh highlighted the impact of external issues like the Red Sea incident, which escalated freight expenses. He emphasized that while the company is forced to implement minimal price increases to mitigate some of the burden, the majority of the additional costs will still be absorbed by Pak Suzuki.
