- Company cites shortage of inventory level as reason behind closure.
- Motorcycle plant will remain operative.
- Two days ago, it also slashed prices of all its variants of cars.
Pak Suzuki Motors Thursday announced an extension of the shutdown of the automobile plant from August 22 to August 26, citing a shortage of inventory level as the reason behind the management’s decision.
In a notice issued to the Pakistan Stock Exchange (PSX), the automobile company highlighted those restrictions imposed by the State Bank of Pakistan (SBP) — regarding prior approval for import under HS code 8703 category (including CKDs) — have “adversely impacted clearance of import consignment which resultantly affected the inventory levels.”
The company, however, said that while the automobile plant will remain closed the motorcycle plant will remain operative.
It had earlier announced to shut down its production plant for two days (August 18-19) for the same reason.
Pak Suzuki slashes car prices from Rs75,000 to Rs199,000
Two days ago, the company also decreased the prices of all its variants of cars and cargo from Rs75,000 to Rs199,000 per unit, a decline of around 5%.
In a revised price plan, Suzuki decreased Rs90,000 per unit of its Alto VX to Rs1.699 million from Rs1.789 million. The new price of Alto VXR reached Rs1.976 million with a decline of Rs103,000 from Rs2.079 million. Alto AGS reached Rs2.223 million with a drop of Rs116,000.
Price of Wagon Rs VXR reached Rs2.421 million with a decline of Rs128,000, Wagon R VXL to Rs2.564 million with a decline of Rs135,000 and Wagon R AGS new price reached Rs2.802 million with a decrease of Rs147,000.
New rates of Cultus VXR reached Rs2.754 with a decrease of Rs125,000, Cultus VXL to Rs3.024 million with a drop of Rs135,000 and Cultus AGS dropped by Rs145,000 to Rs3.234 million.
The price of Swift GL MT dropped by Rs169,000 to Rs3.180 million, Swift GL CVT by Rs179,000 to Rs3.420 million and Swift GLX CVT rates dropped by Rs199,000 to Rs3.760 million per unit.
Ravi witnessed a decline of Rs75,000 to Rs1.424 million and Rs1.349 million for the lower price variant. Rates of Bolan Van and Bolan Cargo were each cut by Rs79,000 to Rs1.5 million and Rs1.487 million per unit, respectively.
Pak Suzuki increased the rates of its vehicles on August 1 when the rupee was continuously depreciating against the dollar. The company had increased rates of its vehicles between Rs251,000 per unit on Bolan to Rs661,000, the highest increase on Swift GLX CVT.
