Automakers are probably planning to raise car prices very soon because the US dollar rate is at an all-time high and is currently in a volatile state. However, they are also providing a variety of benefits to entice more customers because they are aware that further price increases could further reduce demand.
All new reservations made beginning in September 2023 will now be subject to a price lock offer from Pak Suzuki Motor Company (PSMC). The Suzuki Alto VX and Cultus VXR, two of its best-selling vehicles, are excluded from the offer, which is extended to all other models.
For the new Suzuki Cultus, WagonR, and Swift, the company is also providing a Rs. 150,000 exchange bonus and a free registration offer.
Price Increases Coming?
These advantages spell the beginning of a new price hike wave even though they are encouraging for new car buyers. Since August, the dollar exchange rate has been steadily increasing. At this time, it is unclear when this steady ascent will end.
Carmakers in Pakistan are having difficulty keeping prices stable in the current economic climate because the country’s auto industry is still largely dependent on imports. As a result, it is more a question of “when” than “if” the automakers will raise their prices; all indications point to “very soon.”
