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Wednesday, May 22, 2024

Pak Suzuki Announces Major Price Reductions for Swift and KIA Stonic

Pak Suzuki announces substantial price reductions for Swift variants amidst economic stability, reflecting strategic moves to revive demand and capture market share, while Lucky Motor Corporation follows suit with a significant price drop for KIA Stonic, signaling a competitive shift in the automotive industry.

In a significant move, Pak Suzuki Motor Company has announced substantial price reductions for its Swift variants, effective May 1, 2024, in what the company terms a “limited time offer.” The reductions come amid a backdrop of economic stability and governmental policies aimed at supporting the automotive industry.

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The Swift GL CVT, previously priced at Rs4,719,000, will now be available at a reduced price of Rs4,560,000, marking a decline of Rs159,000. Meanwhile, the Swift GLX CVT variant has seen the most substantial price drop, plummeting from Rs5,429,000 to Rs4,719,000, a significant decrease of Rs710,000.

Shafiq Ahmed Shaikh, Head of Corporate Affairs at Pak Suzuki Motor Company, confirmed the price reduction on all Suzuki Swift variants. He attributed this decision to the company’s return to economic stability and the absence of currency fluctuation. Shaikh also acknowledged the role of the government and the Special Investment Facilitation Council (SIFC) in this development.

Reviving Demand and Market Share

Mohammad Abrar, an auto analyst at Arif Habib Limited, views these decisions as strategic moves to revive demand and capture more market share in an increasingly competitive automobile market. Similarly, Lucky Motor Corporation has also announced a significant price drop for KIA’s Stonic EX+, effective April 29. The revised price is now Rs4,767,000, down by Rs1,513,000 from its previous price.

With these adjustments, the Suzuki Swift GL MT will now be sold at Rs4,336,000, marking a drop of Rs85,000 from its previous price. This move by Pak Suzuki Motor Company represents a game-changer in the industry, signaling a competitive shift that could have a significant impact on the market. It remains to be seen how consumers and competitors will respond to this limited-time offer, as the industry dynamics continue to evolve.