Pak Suzuki has started off the new year with increasing the prices of its different car variants owing to the recent devaluation of Pakistani Rupee.
Here are the new prices of its different car models exclusive of Advance Income Tax:
- Mehran VX Rs. 689,000
- Mehran VXR Rs. 742,000
- Ravi Rs. 706,000
- Bolan Rs. 764,000
- Cargo Van Rs. 730,000
- WagonR VXR Rs. 1,074,000
- WagonR VXL Rs. 1,114,000
The revised prices are applicable from 1st January 2018. This was an anticipated move by Pak Suzuki after the government allowed the devaluation of rupee by 5 percent against dollars in the light of the widening current account deficit.
The auto industry in Pakistan is extremely sensitive to the depreciation of Pakistani rupee as most of the raw materials included in creating the automobiles are imported from other countries which become expensive when rupee’s value falls against other major currencies of the world.
Previously, Indus Motors also increased the price of some of its Toyota Corolla variants and we can expect Honda Atlas to do the same for its different cars.
2017 was an interesting year for the automobile industry as we saw the entry of many big names in the Pakistani market like KIA, Hyundai, Volkswagen, Renault etc. who will manufacture their vehicles in the country.
Thanks to the entrance of major European players in the auto industry, we can expect some major changes in the field in the coming two years.