Suzuki increases motorbike prices
Pak Suzuki Motors, a prominent player in the two-wheeler market in terms of market share, has raised the prices of its motorcycles as the automobile industry struggles to stay afloat amid the persistent devaluation of the rupee. In response to the devaluation of the currency, the company has sent a notification to its dealers stating that new rates will be implemented from May 9 and remain in effect until further notice.
The retail prices of the Suzuki motorcycles include the ex-factory price and freight charges incurred on motorcycles that are delivered to dealerships, according to the notification. Pak Suzuki Motors has revised the prices of its motorcycles, with the GD110s now priced at Rs 335,000, GS150 at Rs 364,000, GSX125 at Rs 488,000, GR150 at Rs 521,000, and GW250JP at Rs 1.04 million.
While the Suzuki brand hails from Japan, the company is responsible for local assembly, manufacturing, and marketing of Suzuki cars, pickups, vans, 4x4s, motorcycles, and associated spare parts. Any government tax applicable will be charged to the customer, and the prices are subject to change without prior notice.
Pakistan’s auto industry, which is heavily reliant on imports, is facing a crisis as the State Bank of Pakistan has imposed restrictions on the opening of letters of credit (LCs) after a period of unabated rupee depreciation. Due to the country’s low reserves, industries are experiencing operational hurdles.
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For the fourth time this year, Atlas Honda, which holds the largest share of the two-wheeler market in Pakistan, raised the prices of its motorcycles last week. The bikes were made costlier by Rs 5,000-20,000 with the recent increase.
In conclusion, the persistent devaluation of the rupee has made it challenging for the automobile industry to sustain itself, and Pak Suzuki Motors has followed suit in raising motorcycle prices. As the industry faces operational hurdles, it remains to be seen how the market will adapt to these changes
