Pak Suzuki raises car prices by upto Rs 1 million

12:38 PM | 7 Sep, 2020
Pak Suzuki raises car prices by upto Rs 1 million
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LAHORE - In a surprise move, the Pak Suzuki Motor Company Ltd (PSMCL) has raised the prices of its several variants by upto Rs 1 million without assigning any reason, the reports said on Monday.

According to the notification sent to various dealers and vendors,  the price of Cultus VXR and Cultus VXL has been hiked by Rs 35,000 each from Rs 17, 45,000, to Rs 17,80,000 (Rs 1.78 million) and from 1865,000 to 19,00, 000 (Rs. 1.9 million), respectively.

Similarly, the price of the Cultus AGS has been increased by Rs 45,000. The old price of Cultus AGS was Rs 1,985, 000 to and new price is Rs 20, 30,000. 

The price of New Jimmy has been increased by Rs 50,000. The old price of New Jimny was Rs 3990, 000 (Rs 3.99 million) and its new price is 4,490, 000 ( Rs 4.49 million). 

 The price of Vitara has been increased by Rs 1 million, i.e. from Rs 5,5,00,000 (Rs. 5.5 million) to Rs 6,500,  000 (Rs. 6.5 million).

It merits mentioning here that Pak Suzuki had increased the price of Ravi and Bolan by Rs35,000 from August 10, 2020.

The new prices of Bolan VX IM, Bolan Cargo, and Ravi STD IM are Rs1.134 million, Rs1.075 million, and Rs1.034 million, respectively.

The Pak Suzuki had reported Rs2.46 billion loss of Rs2.46 billion for the six months ended June 30, up from a negative bottom line of Rs1.53 billion in the same term of 2019. Its sales declined 58 percent to Rs27.48 billion from Rs65.43 billion. 

In January 2020, the company announced observed three non-production days - every Monday - during the month of January, owing to depressed demand.