Pak Suzuki Motor Company’s recent announcement of a substantial price hike for its popular models, including Alto, Cultus, and Swift, has triggered criticism and concern among consumers. The significant increase, as detailed in the company’s notification, reflects up to Rs. 180,000 surge in the prices, sparking debates about the affordability and accessibility of these vehicles in the local market.
The Alto series has witnessed noteworthy increases, with the Alto VX, VXR, VXR AGS, and VXL AGS experiencing hikes of Rs. 80,000, Rs. 95,000, Rs. 95,000, and Rs. 110,000, respectively. This has raised questions about the economic viability of these compact cars for budget-conscious buyers.
The revised prices for Cultus models have also sparked concerns, particularly with the VXR, VXL, and AGS variants seeing hikes of Rs. 140,000, Rs. 160,000, and Rs. 180,000, respectively. This substantial increase may potentially impact sales and consumer preferences in the competitive hatchback market.
The price adjustments for Swift models, including GL MT, GL CVT, and GLX CVT, have been met with surprise. The Rs. 85,000, Rs. 65,000, and Rs. 85,000 hikes for these variants, respectively, have led to a renewed discussion on the affordability of Suzuki’s sporty hatchback.
Consumers have taken to social media platforms to express their displeasure with the sudden and steep price hikes. Many argue that such increases limit their choices in the already challenging economic scenario. Industry analysts suggest that this move could potentially impact Pak Suzuki’s sales and market share, especially if competitors maintain more competitive pricing strategies.
Justification of the price hike by Suzuki
Shafiq Ahmed Sheikh, Head of Corporate Affairs at Pak Suzuki, justified the price hikes by citing inflation, increased overhead expenses, rising international raw material and accessories costs, and heightened shipment/freight expenses. He stressed the challenging circumstances faced by the company, asserting that Pak Suzuki is compelled to pass on a minimal portion of the adverse impact through these price increases.
The automobile market in Pakistan is closely watching the developments, and consumers are keen to see how these adjustments will influence their purchasing decisions amid economic uncertainties.
