Where the skyrocketing car prices and burgeoning inflation have ceased the customer’s purchasing power, the roots of racial ‘ON money’ culture are also running deep in the country. Customers are paying considerable sums to get immediate delivery of their vehicles.
As per reports, some customers are paying Rs. 365,000 extra as ‘ON money’ for the swift delivery of their Alto. Meaning Suzuki Alto is selling with a price tag of approximately Rs. 3.3 million. At the same time, the retail price of the car issued by the PSMC is up to 2.93 Rs. million.
It is related to mention that after Suzuki Mehran, Alto came as the company’s best-seller for months. But the recent economic meltdown declined its sales to a record low. In January 2023, Pakistan Suzuki sold only 44 Altos. Despite the ongoing fuss, PSMC stands strong among its Japanese peer in terms of market share.
Pak Suzuki Still Remains Biggest Carmaker
Despite a record slump in sales and back-to-back production shutdowns, Pakistan Suzuki Motors Company (PSMC) has secured a spot on the podium for the tag of the biggest carmaker in the country. Pak Suzuki has turned its fortunes in terms of market share.
As per the reports, PSMC reached a new milestone producing 2.5 million vehicles over more than 40 years in Pakistan. The company’s economy cars, like Mehran, aka ‘The Boss’, before 2019 and the trending ‘Alto’ after that, played a vital role in achieving the landmark. Moreover, Cultus, Wagon R, and Bolan also did the same.
PSMC has announced that it will prolong the production shutdown of its motorcycle factory until April 15. On top of that, the company is also shutting down operations from April 07, 2023, to April 14, 2023.
What do you think about the ON money culture getting strong in local auto industry? tell us in the comments section.
