Cars prices jacked up by 149% in Pakistan

Suzuki has raised the prices of its vehicles for the third time this year.

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increase in automobile imports

According to a Pakistan Business Forum (PBF) research, the motor industry increased vehicle costs by 149% between 2018 and 23.

According to PBF Vice President Ahmad Jawad, due to the rupee’s depreciation against the US dollar, three major vehicle businesses in Pakistan have altered their rates three times in just one and a half months.

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He reported that car costs had soared by 149%, and auto parts prices had increased by 90% from 33%, while the PKR had depreciated by 71%. Ahmad Jawad further said, automobile prices in Pakistan are significantly higher than in neighbouring nations, which the government should seriously consider.

According to the PBF Vice President, sadly, the country’s automakers shift the burden directly to end users rather than reducing/managing their profit margins in the fragile economic scenario. Pak Suzuki Motor Corporation recently raised car prices, blaming rupee depreciation versus the dollar and a lack of basic supplies.

According to reports, Pak Suzuki increased its automobile costs by Rs263,000 due to an increase in power tariffs as well as currency fluctuations. Suzuki has raised the prices of its vehicles for the third time this year.

Suzuki’s Alto VX will now cost Rs2.144 million, an increase of Rs110,000. The Swift GLX CVT has seen a Rs263,000 price hike and will now be available for Rs4.725 million.

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