As we told you last week, Suzuki bike prices will be increased in the next few days, and our report proved to be accurate as Suzuki Pakistan has increased the rates up to Rs. 20,000. According to a notification, the new rates will be applicable from May 9, 2023. Importantly, this is the second price jump by Suzuki in a month, as the last price hike was on April 7, 2023.
Not surprisingly, the company has not shared the reason for this price hike, although it has issued a proper notification of the price hike. The primary reasons could be import difficulties, expensive raw materials, and unstable PKR against the USD, which directly impacts the forex rate. And as we have mentioned in multiple blogs earlier, despite the claim of total localization, the bike companies, especially Yamaha and Suzuki, import the major components of their bikes, meaning more the dollar rate, more the bikes rates, and in this case-sadly-more is not the merrier.
This endless loop of price hikes seems to continue in the foreseeable future because of economic and political instability. The automotive industry will take a couple of months to come out of this misery. Till then, keep your fingers crossed and enjoy the bumpy ride of uncertainty.
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