Pak Suzuki has become the first manufacturer to raise prices in response to the federal government’s intention to raise sales tax from 18% to 25% on domestically built vehicles costing more than Rs. 4 million.
The business raised the price of Swift GLX CVT by Rs. 304,000, as stated in a notice on Monday. After the most recent increase in pricing, the GLX CVT is now Rs. 5,429,000.
Not to be overlooked is the fact that the manufacturer has raised the price of the Swift GLX CVT twice in the previous two weeks. On February 29, it had seen a rise in price of Rs. 85,000 before.
Additionally, the Suzuki Cultus AGS, Suzuki Swift GL MT, Alto VX, Alto VXR, Alto VXR AGS, Alto VXL AGS, and other variations are now more expensive.
According to Shafiq Ahmed Sheikh, Head of Corporate Affairs at Pak Suzuki, the company is finding it extremely difficult to sustain the present selling prices due to inflation, rising administrative costs, rising foreign costs for raw materials and accessories, and shipping and freight charges.
Following the 7% hike in sales tax, it is anticipated that other automakers will follow suit and raise their prices in the near future.
