Pak Suzuki Announces Significant Increase in Swift's Price

• The federal government increases sales tax from 18% to 25% on locally manufactured vehicles.
• Pak Suzuki raises prices, leading with a Rs. 304,000 hike for the Swift GLX CVT.
• Second increase in two weeks for Swift GLX CVT; previously raised by Rs. 85,000.

After the federal government's move to raise the sales tax from 18% to 25% on locally manufactured vehicles exceeding Rs. 4 million, Pak Suzuki has taken the lead by increasing its prices.

In a notification issued on Monday, the company declared a Rs. 304,000 rise in the price of the Swift GLX CVT. Following this latest increase, the GLX CVT now stands at Rs. 5,429,000.

It's worth noting that this marks the second price increase for the Swift GLX CVT by the company within the past two weeks. Previously, on February 29, its price had been raised by Rs. 85,000.

Additionally, the prices of other variants, such as the Alto VX, Alto VXR, Alto VXR AGS, Alto VXL AGS, Suzuki Cultus AGS, and Suzuki Swift GL MT, have also seen an increase.

Pak Suzuki's Head of Corporate Affairs, Shafiq Ahmed Sheikh, explained that inflation, rising overhead expenses, increased costs of international raw materials and accessories, as well as higher shipment and freight costs, have made it challenging for Pak Suzuki to sustain the existing selling prices.

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Other automotive manufacturers are anticipated to raise their prices in the upcoming days due to the 7% rise in sales tax.