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Suzuki decreases car prices by up to six percent - Naveed Yaseen - 04-18-2009 08:07 AM
By Nauman Tasleem
LAHORE: The leading vehicle manufacturer Suzuki has decreased the prices by 1 to 6 percent on its different brands due to decrease in sheet metal prices in the international market, Daily Times learnt on Friday.
The car dealers have welcomed the decision saying it would also encourage other car manufacturers to follow suit.
The prices of Suzuki vehicles were increased in January 2009 due to dollar-rupee parity. However, the company decided to decrease the prices because of decreasing petroleum prices and steel metal, said official spokesman of Suzuki Company, Shafiq Sheikh. He said that the company decided to shift the decrease in international prices to the domestic customers. “If the prices in the international market further decrease then the company definitely would lower the prices,” Sheikh said.
“The company has notified about new prices to the dealers.”
Maximum decrease of five to six percent has been made on 1,000 CC vehicles while minimum decrease of 1 percent is on pick up van.
Jail Road Traders Association Secretary General, Zafar Iqbal welcomed the decision saying it would help the car dealers, as the sale of vehicles would pick up. He said that the sales of vehicles — new and old — have dropped considerably in the last few months. He said that though it is a nominal decrease but at least would encourage other vehicle manufacturers to decrease their prices as well.
The sales of brand new and used cars have declined by around 90 percent in the last two months due to high prices and low availability of finance by the banks, said a car dealer Rizwan Goraya. He said that due to increase in the prices of new vehicles, the prices and sale of used vehicles dropped considerably. “In the last one moth my profits decreased, as there was no buyer,” he added.
According to Pakistan Automobile Association (PAMA) in 2007-08, 27,662 Cultus were produced and 27,563 were sold while 18,805 Alto were produced and 19,097 sold. The production of Mehran remained 36,249 and 35,526 were sold.
Rs 50,000 have been decreased for all models of Cultus. Rs 36,000 have been decreased for all models of Alto. Rs14,000 have been decreased on Mehran and Bolan while Rs 7,000 have been decreased for all Ravi Pick up.
http://www.dailytimes.com.pk/default.asp?page=2009\04\18\story_18-4-2009_pg5_5