Auto Makers All Set to Increasse Prices in 2020
Updated: Decmber 18, 2019
KARACHI: Despite decreasing cost of imported parts on account of strengthening of the rupee and steep fall in sales during first 5 months of fiscal year, the auto assemblers on Tuesday gave car and bike buyers a fresh shock by increasing the prices.
Pakistan Suzuki Motors Company Ltd (PSMCL),has raised prices for various models by Rs49,000-90,000 effective Jan 1,2020.
After the Jump of Prices the new Prices for Suzuki Models are as follow:
Alto VXR and Alto VXL will be available at Rs1.398 million and Rs.1.598m followed by Rs65,000 and Rs70,000 raise in WagonR VXR and VXL costing of Rs1.605m and Rs1.695m respectively.
The Price of Suzuki Bolan and Bolan Cargo have been increased by Rs49,000 and Rs50,000 respectively. The Price of Swift model has been increased by Rs90,000.
PSMCL has already increased prices for Alto 660c twice.One in Feb 2019 and second increase was in Oct 2019.
PSMCL spokesperson Shafiq Ahmed Sheikh said that company has suffered lost in all four quarters till September.
As a result, he said, the company has slightly increased the prices despite massive cost rise caused by rupee depreciation against dollar. However, market watchers are surprised over prices as demand decreased and rupee is also appreciating against dollar.
One dollar is now equal to Rs155 as compared to Rs164 on June 24, which indicates the decreasing cost for imports.
Although Car assemblers and their vendors has claimed to achieve 70 percent of localisation but increase in prices with the stability in exchange rate has nullified their claim.
Yamaha Motor Pakistan Ltd has also came with the jump in Prices effective from Jan 1, 2020.
New Prices for Yamaha 125Z and Yamaha125G and Yamaha125 are Rs139,000 ,Rs163,500 and Rs156,000 from Rs136,500 ,Rs160,00 and Rs153,500 respectively.
Source: “DAWN News”.