Suzuki hikes bikes prices yet again
Prices of Pak Suzuki Motor Company’s motorcycles were increased by as much as Rs20,000 on Monday, with the new rates going into effect on May 9th.
According to a notification that was distributed by the company, the price of the GD110S model increased from Rs328,000 to Rs335,000. Additionally, the price of GS150 increased by Rs14,000, reaching a total of Rs364,000.
After a price hike of Rs19,000, the GSX125 model will now be available for purchase at Rs488,000. The price of GR150 increased by Rs20,000, bringing it to Rs521,000.
Pak Suzuki made the announcement earlier this month that it will be closing its motorcycle manufacturing from May 2, 2023, to May 9, 2023, due to an inventory deficit caused by ongoing import restrictions that are impacting the automotive industry.
The automotive industry in Pakistan is experiencing challenging circumstances, quite similar to those faced by the economy as a whole. Because of its strong reliance on imported auto parts and raw materials, this industry was one of the most severely impacted by the quick depreciation of the rupee and issues with Letters of Credit (LC), which occurred as a direct result of the depletion of foreign exchange reserves.