Pak Suzuki increases car prices by 3%

[The Sandman]

KARACHI: Pak Suzuki Motor Company (PSMC) – Pakistan’s top car maker by market share – has increased prices by 3% with effect from August 1, according to information given by official dealers.

It translates to a price hike of between Rs20,000 to Rs30,000 on all its car models.

The company’s share price increased 3% on Monday, finishing at Rs413.5. The benchmark-100 index also went up 0.69% in a bullish day for investors.

This price increase is the first of 2016 that affects every model with the company increasing the price of its Suzuki Wagon R variant by 2% earlier in the year.

When contacted by The Express Tribune via phone, Pak Suzuki’s spokesperson Shafiq Shaikh promised to revert in 10 minutes. However, he did not respond despite repeated phone calls.

Honda Pakistan launches loyalty card

Analysts say this will help the PSMC maintain its margins. Due to the recent appreciation in Japanese yen, which picked up pace in the wake on Brexit, the company’s margins in the first half of 2016 (1H2016) were 10% compared to 14% during 2015, according to a Topline Securities report.

Some analysts expected the price increase. “We had already assumed a price increase of 3% for third quarter of 2016 (3Q2016),” the report said on Monday.

It added that the PSMC will likely increase prices by another 2% during the remainder of the year. “We forecast the company to maintain margins of around 10-11% during second half of 2016 (2H2016).”

Pak Suzuki Motor Co’s profit drops 41% in H1

Last week, Pak Suzuki announced its second-quarter (Apr-Jun 2016) results and posted a profit of Rs488 million, down by a massive 67% from Rs1.47 billion in the same quarter of last year.

According to Topline Securities, the result was below market expectations.

Sales fell 7% year on year to Rs19 billion in the second quarter of 2016 (2Q2016). This decline was mainly due to drop in volumetric sales post culmination of Apna Rozgar Taxi Scheme of the Punjab government.

PSMC’s sales in the outgoing quarter were 26,011 units, a decline of 19% year on year (down 11% year on year to 56,192 units in first half of 2016 (1H2016).

Excluding taxi units (Ravi and Bolan), sales were robust as they increased 23% year on year to 16,911 units in 2Q2016 (17% year on year to 34,864 units in 1H2016).

Any adverse exchange rate movement, implementation of international safety standards, and reduction in import duty are key risks for the company, the report added.
http://tribune.com.pk/story/1153612/pak-suzuki-increases-car-prices-3/

 

[ebrahym]

KARACHI: Pak Suzuki Motor Company (PSMC) – Pakistan’s top car maker by market share – has increased prices by 3% with effect from August 1, according to information given by official dealers.

It translates to a price hike of between Rs20,000 to Rs30,000 on all its car models.

The company’s share price increased 3% on Monday, finishing at Rs413.5. The benchmark-100 index also went up 0.69% in a bullish day for investors.

This price increase is the first of 2016 that affects every model with the company increasing the price of its Suzuki Wagon R variant by 2% earlier in the year.

When contacted by The Express Tribune via phone, Pak Suzuki’s spokesperson Shafiq Shaikh promised to revert in 10 minutes. However, he did not respond despite repeated phone calls.

Honda Pakistan launches loyalty card

Analysts say this will help the PSMC maintain its margins. Due to the recent appreciation in Japanese yen, which picked up pace in the wake on Brexit, the company’s margins in the first half of 2016 (1H2016) were 10% compared to 14% during 2015, according to a Topline Securities report.

Some analysts expected the price increase. “We had already assumed a price increase of 3% for third quarter of 2016 (3Q2016),” the report said on Monday.

It added that the PSMC will likely increase prices by another 2% during the remainder of the year. “We forecast the company to maintain margins of around 10-11% during second half of 2016 (2H2016).”

Pak Suzuki Motor Co’s profit drops 41% in H1

Last week, Pak Suzuki announced its second-quarter (Apr-Jun 2016) results and posted a profit of Rs488 million, down by a massive 67% from Rs1.47 billion in the same quarter of last year.

According to Topline Securities, the result was below market expectations.

Sales fell 7% year on year to Rs19 billion in the second quarter of 2016 (2Q2016). This decline was mainly due to drop in volumetric sales post culmination of Apna Rozgar Taxi Scheme of the Punjab government.

PSMC’s sales in the outgoing quarter were 26,011 units, a decline of 19% year on year (down 11% year on year to 56,192 units in first half of 2016 (1H2016).

Excluding taxi units (Ravi and Bolan), sales were robust as they increased 23% year on year to 16,911 units in 2Q2016 (17% year on year to 34,864 units in 1H2016).

Any adverse exchange rate movement, implementation of international safety standards, and reduction in import duty are key risks for the company, the report added.
http://tribune.com.pk/story/1153612/pak-suzuki-increases-car-prices-3/

this is the worst kind of terrorism
guess what Pak suzuki is a bigger terror organization than ISIS
they should name themselves ISIS far east

 

[jetray]

KARACHI: Pak Suzuki Motor Company (PSMC) – Pakistan’s top car maker by market share – has increased prices by 3% with effect from August 1, according to information given by official dealers.

It translates to a price hike of between Rs20,000 to Rs30,000 on all its car models.

The company’s share price increased 3% on Monday, finishing at Rs413.5. The benchmark-100 index also went up 0.69% in a bullish day for investors.

This price increase is the first of 2016 that affects every model with the company increasing the price of its Suzuki Wagon R variant by 2% earlier in the year.

When contacted by The Express Tribune via phone, Pak Suzuki’s spokesperson Shafiq Shaikh promised to revert in 10 minutes. However, he did not respond despite repeated phone calls.

Honda Pakistan launches loyalty card

Analysts say this will help the PSMC maintain its margins. Due to the recent appreciation in Japanese yen, which picked up pace in the wake on Brexit, the company’s margins in the first half of 2016 (1H2016) were 10% compared to 14% during 2015, according to a Topline Securities report.

Some analysts expected the price increase. “We had already assumed a price increase of 3% for third quarter of 2016 (3Q2016),” the report said on Monday.

It added that the PSMC will likely increase prices by another 2% during the remainder of the year. “We forecast the company to maintain margins of around 10-11% during second half of 2016 (2H2016).”

Pak Suzuki Motor Co’s profit drops 41% in H1

Last week, Pak Suzuki announced its second-quarter (Apr-Jun 2016) results and posted a profit of Rs488 million, down by a massive 67% from Rs1.47 billion in the same quarter of last year.

According to Topline Securities, the result was below market expectations.

Sales fell 7% year on year to Rs19 billion in the second quarter of 2016 (2Q2016). This decline was mainly due to drop in volumetric sales post culmination of Apna Rozgar Taxi Scheme of the Punjab government.

PSMC’s sales in the outgoing quarter were 26,011 units, a decline of 19% year on year (down 11% year on year to 56,192 units in first half of 2016 (1H2016).

Excluding taxi units (Ravi and Bolan), sales were robust as they increased 23% year on year to 16,911 units in 2Q2016 (17% year on year to 34,864 units in 1H2016).

Any adverse exchange rate movement, implementation of international safety standards, and reduction in import duty are key risks for the company, the report added.
http://tribune.com.pk/story/1153612/pak-suzuki-increases-car-prices-3/

Same in India,
http://blogs.economictimes.indiatim...maruti-suzuki-hikes-prices-by-up-to-rs-20000/

NEW DELHI: The country’s largest car maker Maruti Suzuki India Limited (MSIL) today said it is increasing prices of select models across its range of vehicles by up to Rs 20000 to offset the impact of adverse foreign exchange movement.


this is what happens when a country is dependent on foreign manufacturers.

 

[Super Falcon]

Let Nissan come and you see they begging to sell their cars

 

[jetray]

Let Nissan come and you see they begging to sell their cars

How will it change? you have no idea how they work. Initially they price less once they get into market then they form a coterie and keep the price same. Thats a standard trick, every one will profit in industry. Only lasting solution is local manufacturers who will cut price and induce competition.

 

[pak-marine]

Enough of these junk wagons .. With pak suzuki we are frozen in time .. Paying 800k for there tin box mehran

 

[Pandora]

Suzuki is a bloody ripoff. I would rather buy an expensive Honda or corolla rather than this Suzuki junk.

 

[Muhammad Omar]

Phuck you

 

[Max Pain]

How will it change? you have no idea how they work. Initially they price less once they get into market then they form a coterie and keep the price same. Thats a standard trick, every one will profit in industry. Only lasting solution is local manufacturers who will cut price and induce competition.

but we dont have good local manufacturers so we'd expect from some foreign OEM's create competition here

 

[@RV]

They increased prices in India in March this year by 6% due to some taxes being included. In Pakistan, inflation might be the reason.

 

[The Sandman]

They increased prices in India in March this year by 6% due to some taxes being included. In Pakistan, inflation might be the reason.

But at least you people are getting a "car" for that money unlike us who gets junk

 

[Zibago]

Enough of these junk wagons .. With pak suzuki we are frozen in time .. Paying 800k for there tin box mehran

Willing to compromise on resale there are better options available in same pric3

 

[jetray]

But at least you people are getting a "car" for that money unlike us who gets junk

Well true its relative comparison, may be we are 20% better. when compared to other countries like US,japan,europe or still say singapore/malaysia we are still paying exorbitant price for cars which are nothing but junk. Why western, I am very much sure you would vouch that saudi or uae will have far more better cars than India/pakistan has.

For example suzuki/hyundai exports from India they conform to european crash test standards but in India the very same cars failed the crash test standards. Safety bags are standard in US/Western countries in India it is non-existent. Take for example automatic transmission is the most used in western world, they had it since 2 decades back. In India it is still in Manual transmission mode. corrola's/civics are run of the mill models in rest of the world and in India it is a premium segment!

Companies wont do it bcos they can make money without any effort so why do it? It is some thing like a new employee getting paid more than existing employee bcos company does not see the need to pay more when they are getting the job done. Onus is on govt to create competitive environ and get the best for its ppl.

 

[pak-marine]

Willing to compromise on resale there are better options available in same pric3

3 lac is a rape for used desi ghee ka daba

 

[Lucky Breeze]

Initially they price less once they get into market then they form a coterie and keep the price same.

Its sad! In both india and pakistan this cartel mafia is very strong. In Pakistan there are no strict laws for cartel in India I don't know.