Pak Suzuki Motors has increased the prices of Bolan and Ravi vehicles by Rs 35,000.
Suzuki’s increase in car prices comes at a time when other automobile companies have also increased the costs of their various range of vehicles.
According to a statement issued by Pak Suzuki, after an increase of 35,000, the new price of the pick-up vehicle Ravi has reached Rs 1,034,000. The new rates will take effect on Monday, August 10.
On the other hand, the prices of Bolan passenger and cargo vehicles have also been increased, after which their new prices have gone up to Rs 1,134,000 and Rs 1,075,000 respectively.
According to Ahmed Lakhani, a senior research analyst at JS Global Capitals, the company has taken the position that the company’s profits have been in deficit for the past one and a half years due to the recent rise in car prices.
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However, due to the appreciation of the dollar against the Pakistani currency, it wasn’t easy to maintain the prices of existing vehicles.
It should be noted that Pak Suzuki’s car Bolan Kerry is a 7th generation ST 90V version of Suzuki, which was introduced in the year 1979. While Ravi is used in vehicle loading works.
Rising car prices in Pakistan have led to a decline in sales of new cars. In addition to Suzuki, Toyota and Hand-Atlas have also increased the costs of their vehicles.
According to the company, prices were increased due to the depreciation of the rupee.
This is the reason given by Pak Suzuki in its letter to its certified dealers.