After automakers successively announced output cuts and suspensions of bookings, the automotive industry suffered a heavy blow.When the State Bank of Pakistan declined to grant the Letter of Credit, a commotion ensued (LCs).
Whereas the popularity of automobile enthusiasts’ favourite models (Corolla, Yaris, Civic, and City) saw a sharp decline last month, Alto fever is still going strong.
According to the PAMA monthly report for July, sales of the Suzuki Alto have topped those of the Corolla/Yaris and the Civic/City put together.
According to the study, Toyota and Honda sold 4,142 units each, compared to 4,618 units for the Alto. Alto has thus earned the title of best-selling vehicle for a record-breaking seventh time.
There are a number of reasons why PSMC continues to sell a lot of Alto even as the industry faces challenging times. People are being urged to choose a car with the best fuel economy because of rising gas prices and rising inflation.
Second, the optimum vehicle for city transportation is a compact one. Additionally, this car is well-liked by middle-class families and students and is suitable for ride-hailing services.
Read more: Suzuki Alto, Cultus prices increased
Reduction in price
After the rupee recovered and the dollar’s value declined, automakers started to announce a decrease in automobile pricing. Pak Suzuki cut the price of their cars after Toyota.
The revised prices will be in effect starting on August 16, 2022.
The Suzuki Alto’s new price in Pakistan is:
- The base Alto VX variant now costs Rs. 1,699,000 after a reduction of Rs. 90,000. The car originally cost Rs. 1,789,000.
- The price of the mid-variant Alto VXR has dropped by Rs. 103,000, from Rs. 2,079,000 to Rs. 1,976,000.
- And the most expensive model, the Alto AGS, has decreased by Rs. 116,000. As opposed to the previous price of Rs. 2,339,000, it will now cost Rs. 2,223,000.
The reduction in prices of cars came after the dollar lost value against rupee.