Pak Suzuki Announces Massive Increase in Swift’s Price. Following the federal government’s decision to raise the sales tax from 18% to 25% on locally manufactured vehicles priced above Rs. 4 million, Pak Suzuki has taken the lead in adjusting its prices.
In a notification issued on Monday, the company announced a Rs. 304,000 hike in the price of the Swift GLX CVT variant. With this adjustment, the GLX CVT now stands at Rs. 5,429,000.
Suzuki Swift GLX CVT Now Cost Rs 5.4 Million
This increase comes as a response to the recent surge in GST imposed by the government on locally assembled vehicles. Notably, this marks the second price adjustment for the Swift GLX CVT within two weeks. Previously, on February 29, its price had been raised by Rs. 85,000.
The revised tax structure, which raises the GST from 18% to 25%, has significantly impacted the price of the Suzuki Swift GLX CVT in Pakistan, moving it from Rs. 5.125 million to Rs. 5.429 million.
Suzuki announces massive increase in car prices
Moreover, other variants including Alto VX, Alto VXR, Alto VXR AGS, Alto VXL AGS, Suzuki Cultus AGS, and Suzuki Swift GL MT have also seen price increases. Pak Suzuki Announces Massive Increase in Swift’s Price.
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Shafiq Ahmed Sheikh, Pak Suzuki’s Head of Corporate Affairs, cited inflation, increased overhead expenses, rising international raw material and accessory costs, and higher shipment/freight costs as reasons behind the price adjustments.
Suzuki Swift GLX CVT Now Cost Rs 5.4 Million
It is expected that other auto manufacturers will follow suit in raising their prices due to the 7% increase in sales tax. This tax hike applies to vehicles priced above Rs. 4 million (excluding GST), those with engine capacities of 1400cc & above, and double-cabin 4x4s. Other auto assemblers are likely to adjust their prices soon in response to the latest sales tax increase.