In recent updates, the price of Pak Suzuki Motor Company's Swift GLX CVT model in Pakistan has surged for the second time in a month, now reaching Rs5.429 million. This increase amounts to a significant 6.3% rise, equaling Rs304,000, compared to its previous price of Rs5.125 million.
The primary reason behind this increase, according to Pak Suzuki, is the substantial sales tax imposed on locally assembled vehicles. This tax adjustment took place on March 8, raising the tax rate from 18% to 25% specifically for vehicles with an invoice price (excluding sales tax) exceeding Rs4 million. Additionally, Pak Suzuki had already raised the price by Rs85,000 on March 1 due to inflationary pressures and rising raw material costs.
This recent adjustment marks the second consecutive price hike for the Swift GLX CVT model within a single month, underscoring the significant influence of economic factors like inflation and government policies on the automotive industry in Pakistan.
