Asia Bizz: Suzuki Pakistan has reportedly hiked the prices of their car models by Rs.20,000 in the country. One of the main reasons the prices have shot up with Pak Suzuki is because of the massive price rise in the raw materials around the world. Another reason for the price rise is due to the Yen, as the Japanese currency has appreciated against the Pakistani Rupee.
To make matters worse, the government asked the company to start importing five year old used cars and refurbish them so that they could be sold in the market. This was done because of the pressure of the manufacturers who asked the government not to hike the prices.
It has been expected that Pakistan will sell 135,000 cars from its local units and around 6000 cars from its imported sector. Pakistan has become a massive hub of importing used cars from around the world, as the demand for such vehicles are increasing by the day. It has also been witnessed that Pakistan car manufacturers have increased the prices of vehicles 15 to 18 times in the span of three years.