Pakistan’s ongoing hyperinflation crisis has seen car sales, production, and revenue generation plummet to unprecedented lows, automakers are striving to rekindle public interest and revive their dwindling fortunes. Among these, Pak Suzuki Motor Company (PSMC) has taken an innovative step to regain its customer base.
PSMC has introduced a ‘price lock’ offer on all its car models, with the exception of Cultus VXR, valid until the end of August. This means that the prices of Suzuki cars will remain unchanged for a month, regardless of any economic fluctuations. However, there’s a catch – the price lock only becomes effective once a vehicle is booked.
In addition to this, PSMC is also offering an exchange bonus to further stimulate sales. Customers can avail a bonus of Rs. 100,000 on the new WagonR and Rs. 160,000 on the new Swift model.
However, industry insiders suggest that Suzuki’s price lock announcement could be a precursor to a potential price hike. The pricing of cars in Pakistan is pegged to the value of the US Dollar, which currently stands at Rs. 287. Given the volatility of the local currency, any sudden fluctuation could trigger another round of price increases.
While the ‘price lock’ offer may seem like a respite for customers amidst the economic turmoil, it is crucial for potential buyers to understand that the offer only applies upon booking a vehicle. As such, the looming threat of a price hike post-August remains a significant concern.
