Skip to main content

Car prices jacked up in Pakistan as rupee weakens

Car prices, Pakistan, Pak Suzuki

KARACHI: Pak Suzuki Motor Company has jacked up the price of cars, citing rupee devaluation against the dollar and shortage of raw materials, ARY news reported.

According to details, Pak Suzuki jacked up its car prices by Rs263,000 on the back of increase in power tariffs along with currency fluctuation. It is for the third time in the current year Suzuki has increased prices of its cars.

Suzuki’s Alto VX will now be sold for Rs2.144 million following an increase of Rs110,000. The company’s Swift GLX CVT saw a price increase of Rs263,000 and will now be sold for Rs4.725 million.

Moreover, the prices of Wagon-R, Ravi and Bolan have increased by Rs180,000 and Rs94,000 respectively.

Earlier in Feb, Pak Suzuki Motor Company Ltd (PSMCL) shut down its plant from February 13 to 17 due to low inventory supply.

“Due to continued shortage of inventory level, the management of the company has decided to shut-down automobile plant from February 13, 2023 to February 117, 2023,” stated a notice sent to the Pakistan Stock Exchange (PSX).

In the filing, Pak Suzuki said that the company’s imports “adversely impacted clearance of import consignment which resultantly affected inventory levels”.

It was the fourth consecutive announcement by the company of keeping brakes at its production activities in 2023. Earlier, the company suspended production activities from Jan 2-6. The firm stated that its supply chain is affecting due to restrictions of the State Bank of Pakistan (SBP).

Read More: Pak Suzuki extends plant closure 

Later in January, PSMC notified the closure again that it would keep the automobile plant shut from January 9 to January 20, attributing the same reasons for curbs on the import of CKD kits.

It is pertinent to mention here that PMSC is the local assembler, manufacturer and marketer of Suzuki cars, pickups, vans, 4x4s and motorcycles as well as related spare parts. The Suzuki brand itself is from Japan.

 

 



from Latest Pakistan News Breaking News from All over Pakistan - ARY News https://ift.tt/c8gODoq
Labels:

Comments

Post a Comment

Popular posts from this blog

Pakistan floods: South Asia’s monsoon explained

Floods in Pakistan have killed more than 1,000 people after what its climate change minister called a record unbroken cycle of monsoon rains with “8 weeks of non-stop torrents”. AFP explains what the monsoon is, why it is so important and yet so dangerous, and how climate change and other man-made effects may be altering the vast life-giving but destructive annual weather system. What is the South Asian monsoon? The Southwest or the Asian Summer Monsoon is essentially a colossal sea breeze that brings South Asia 70-80 percent of its annual rainfall between June and September every year. It occurs when summer heat warms the landmass of the subcontinent, causing the air to rise and sucking in cooler Indian Ocean winds which then produce enormous volumes of rain. Why it is important? The monsoon is vital for agriculture and therefore for the livelihoods of millions of farmers and for food security in the poor region of around two billion people. But it brings destruction every ye...
Post a Comment
Read more

Faisal Vawda foresees imminent sacking of a provincial governor

ISLAMABAD: Senator Faisal Vawda hinted at the removal of one of the provincial governors very soon. Speaking during the ARY News program, Senator Faisla Vawda said on Friday, “A provincial governor will be in troubled waters soon and his time is up. Without mentioning the name, Faisla Vawda said the governor in question has been selling his name, making money, and telling lies, now his turn has come, and he has to go home soon”. Vawda predicted that the governor’s removal would occur within the next week or two months but he will surely be removed from his post. He also took the opportunity to criticize the PPP-led Sindh government, stating that none of its cabinet members, aside from Chief Minister Murad Ali Shah, are capable of writing a paragraph in English. Vawda added that only god can save the country when Pakistan’s future is in the hands of such persons. Additionally, Vawda touched on the murder of anchor person Arshad Sharif, claiming that the facts of the case will soo...
Post a Comment
Read more

CDA removes golden hands sculpture in Islamabad after online backlash

ISLAMABAD: The Capital Development Authority (CDA) on Monday removed a recently installed ‘Golden Hands’ sculpture located along Margalla Avenue in Islamabad. The artwork featured two large golden hands holding two balls like objects resembling a world map. Installed by a private developer, the sculpture quickly gained widespread attention on social media, sparking debate, memes, and a wave of speculation over its symbolism. Soon after its installation, the monument became the subject of intense online discussion. Social media users assigned various meanings to the structure with many interpreting it as a symbol of Pakistan’s rising global presence while others saw it as an ambitious but misplaced artistic expression. Amid the growing online buzz, CDA officials reportedly sprang into action. Initially, the sculpture was covered with cloth in an apparent attempt to minimize public reaction. Later, the structure was dismantled and removed using heavy machinery and labour teams. The ...
Post a Comment
Read more