Pak Suzuki becomes second company to reduce prices citing rupee appreciation

Pak Suzuki Motor Company Limited (PSMCL) announced on Tuesday that the prices of various models have been reduced by Rs75,000-199,000 effective August 16, citing rupee appreciation against the dollar.

The company has closed advance bookings of vehicles since July 1. The Alto VX, VXR, and AGS models now cost Rs1.699 million, Rs1.976m, and Rs2.223m, respectively.Wagon VXR, VXL and AGS models will now cost Rs2.421m, Rs2.564m and Rs2.802m, while Cultus VXR, VXL and AGS models are now available at Rs2.754m, 3.024m and Rs3.234m.

The new prices of Swift GL MT, CVT and GLX CVT are Rs3.180m, Rs3.420m and Rs3.760m while Ravi, Ravi without deck, Bolan van and Bolan Cargo carry price tags of Rs1.424m, Rs1.349m, Rs1.500m and Rs1.487mThe fall in price appears surprising as the company had raised the rates by Rs314,000-661,000 in the first week of August, linking it to the rupee devaluation against the dollar.

Pak Suzuki has also decided to temporarily shut down its car production plant from August 18-19, due to a parts shortage. In a stock filing on Tuesday, the company said the motorcycle plant would remain kikoperational.

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