KARACHI: Pak Suzuki Motor Company (PSMC) announced in February that it would suspend production for three days.
In this regard, Pak-Suzuki issued a notification regarding non-productivity day (NDP) but did not specify the reason for the production shutdown, though it announced that production in the automobile sector was closed on February 3, 4 and 10. Will
It is to be noted that Pak Suzuki stopped production for four days in January this fiscal year to rationalize its inventory.
In addition, the company increased the prices of Suzuki Cultus VXL and AGS models by Rs 10,000, followed by the price of the clots at 18 lakh 65 thousand and AGS models at Rs 19 lakh 85 thousand.
According to the company, the recent increase in the price of vehicles was due to the new infotainment system in the vehicle models.
It may be recalled that Pak Suzuki on January 1 increased the prices of its various models from 49 to 90 thousand rupees, despite the reduction in import costs due to the stabilization of the exchange rate.
Demand in the auto sector was the main reason for the decline in imports of Complet and Semi Knockdown kits by 46% in the first half of this fiscal year, and these imports fell from $ 426 million to $ 22 million over the same period last year. Made millions of dollars.
In addition, new federal excise duty, additional customs duty on raw materials and rising rates of exchange rate fluctuations led to lower sales of different models of vehicles in the first half of fiscal 20, while interest rates increased by 13.25%. Being at the top level also eliminated new buyers.
However, it should be noted that in January, Honda Atlas Cars Pakistan Limited did not produce any unproductive day while in December 2019 the company only worked 8 days.
In addition, the Indus Motor Company, which assembles Toyota vehicles, did not suspend any production in December, compared to 4-5 days in November last year.