KARACHI: Amid growing uncertainty over a war-like situation between Pakistan and India, auto assemblers on Wednesday surprised customers with price relief and shocks amid falling cost of production thanks to exchange rate stability for over one and a half years and a massive reduction in the interest rate.
For example, Lucky Motor Corporation drastically lowered the price of Kia Sportage L HEV, L FWD and L Alpha to Rs10.999 million, Rs9.999m and Rs8.499m from Rs1.2850m, Rs11.825m and Rs9.499m, a drop of Rs1.851m, Rs1.82m and Rs1m, respectively.
The company’s circular says that the new prices, which are temporarily adjusted, are effective from May 1.
On the contrary, Pak Suzuki Motor Company Ltd (PSMCL), which raised the prices of various models by up to Rs120,000 in February, has come out with fresh price shocks for multiple models.
For example, the company revised the prices of Suzuki Swift GL MT model to Rs4.416m from Rs4.336m, up by Rs80,000 effective from April 26.
The price of Suzuki Cultus VXR, VXL and AGS models has been jacked up to Rs4.230m, Rs4.316m and Rs4.618m from Rs3.858m, Rs4.244m and Rs4.546m, up by Rs372,000, Rs72,000 and Rs72,000, respectively.
Temporary shutdown: Meanwhile, Bolan Casting Ltd, a leading tractor parts maker, temporarily halted production activities from April 28 to May 9, citing a drastic drop in orders.
Published in Dawn, May 1st, 2025
