Pak Suzuki slashes Swift prices to boost sales

Pak Suzuki Motor Company has announced a significant price reduction on its Swift variants in a move to attract more customers and boost sales. The company's 'limited time offer' includes price cuts of up to Rs710,000 on selected models, effective from May 01, 2024. This decision comes amidst changing market conditions and aims to provide customers with more affordable options.

Under the revised pricing, the Swift GL MT will now be available at Rs4,336,000, down by Rs85,000 from its previous price. Similarly, the Swift GL CVT will see a price drop of Rs159,000, bringing its new price to Rs4,560,000. The most significant reduction is in the Swift GLX CVT, which will now be sold at Rs4,719,000 after a massive decrease of Rs710,000.

The revised prices are inclusive of Federal Excise Duty (FED) and Sales Tax, excluding Advance Income Tax. Pak Suzuki Motor Company emphasized that these reduced prices are only applicable for a limited period, indicating a temporary promotional strategy.

Shafiq Ahmed Shaikh, Head of Corporate Affairs at Pak Suzuki Motor Company, highlighted the company's aim to stabilize the economy and minimize currency fluctuations through this pricing adjustment. He also acknowledged the supportive role of government policies and the Special Investment Facilitation Council (SIFC) in the automotive industry's development.

In a similar move, Lucky Motor Corporation announced a substantial price cut on KIA's Stonic EX+ model, reducing its price to Rs4,767,000 from Rs6,280,000. This trend of price reductions in the automobile sector is seen as an effort to stimulate demand and enhance market competitiveness, as noted by industry analysts.

The price reductions by Pak Suzuki Motor Company and Lucky Motor Corporation reflect a strategic response to market dynamics and government initiatives, aiming to make vehicles more accessible to consumers and revitalize the automotive industry in Pakistan.