Pak Suzuki and Lucky Motor Slash Car Prices

Pak Suzuki Motor Company has introduced a limited-time offer with significant price reductions for its Swift variants. The company stated that the decision was made in response to current market conditions and dynamics. Effective from May 01, 2024, the promotional retail sales prices for Suzuki Swift have been revised.

Under the new pricing structure, the Swift GL MT will now be available for Rs4,336,000, marking a reduction of Rs85,000 from its previous price. Similarly, the Swift GL CVT will be priced at Rs4,560,000 after a decrease of Rs159,000. The most substantial price drop was seen in the Swift GLX CVT, which plummeted from Rs5,429,000 to Rs4,719,000, reflecting a decrease of Rs710,000. These revised prices include Federal Excise Duty and Sales Tax but exclude Advance Income Tax.

Shafiq Ahmed Shaikh, Head of Corporate Affairs at Pak Suzuki Motor Company, emphasized that the price cuts are temporary and attributed them to the company's aim to restore economic stability and mitigate currency fluctuations. He also acknowledged the supportive role of government policies and the Special Investment Facilitation Council in this initiative.

In a related development, Lucky Motor Corporation announced a substantial price reduction for KIA's Stonic EX+ in Pakistan. Following the revision, the KIA Stonic EX+ will now be sold at Rs4,767,000, down by Rs1,513,000 from its previous price of Rs6,280,000. Mohammad Abrar, an auto analyst at Arif Habib Limited, noted that these strategic pricing adjustments are intended to stimulate demand and enhance market competitiveness in the challenging automobile sector.

The price reductions introduced by Pak Suzuki Motor Company and Lucky Motor Corporation signal a proactive approach to adapt to market conditions and attract consumers. These initiatives are expected to invigorate the automotive industry in Pakistan and foster healthy competition among manufacturers.