Following Toyota Indus’ footsteps, Pak Suzuki has also announced a price increase due to the recent devaluation of the Pakistani Rupee.
Both companies – Pak Suzuki and Toyota Indus – justified this price hike saying that their vehicles mostly consist of imported hardware which costs more than usual if the rupee’s value falls. Even the parts manufactured in-house consist of imported raw material so those parts inevitably becomes expensive too.
Here are the new prices for the Suzuki vehicles available in Pakistan;
- Mehran VX: Previous price of Rs. 6.79 lacs increased to Rs. 6.89 lacs.
- Mehran VXR: Previous price of Rs. 7.32 lacs increased to Rs. 7.42 lacs.
- Bolan: Previous price of Rs. 7.54 lacs increased to Rs. 7.64 lacs.
- Bolan Cargo: Previous price of Rs. 7.2 lacs increased to Rs. 7.30 lacs.
- WagonR VXR: Previous price of Rs. 10.54 lacs increased to Rs. 10.74 lacs.
- WagonR VXL: Previous price of Rs. 10.94 lacs increased to Rs. 11.14 lacs.
- Ravi: Previous price of Rs. 6.72 lacs increased to Rs. 7.06 lacs.
More Price Hikes Expected
We can expect other manufacturers, including Honda Pakistan, to increase their prices as well. Due to the absence of factories with the ability to manufacture their own parts, Pakistani automobile manufacturers rely on heavy imports from other countries in order to sustain their assembly needs for vehicles. Around 60% of components required by the automakers are imported, and even the insubstantial home-made components require imported raw materials.
The growing economy, population, even the CPEC projects are increasing the demand for vehicles and the production targets for manufacturers are increasing day by day.