2023, a worst year for Pakistan’s auto industry in terms of sales and production, has departed. As we have ushered in the new year 2024, the local car makers seem determined to turn the tide at least in the first half and bail themselves out of mess they were in.
Suffice it to say, the local makers started announcing offers on their prominent car models. Following Kia Lucky Motors and Toyota Indus Motors (IMC), Pakistan Suzuki Motors Company (PSMC) also announced an offer – purchase bonus offer of Rs. 100,000 on all-new Swift.
Evaluating what PSMC earned put forth some distressing results. The company observed a decline of 70% in terms of sales. Pak Suzuki reported a significant loss, even the company delisted from stock exchange. The auto maker saw no benefit in remaining listed because of low valuation and several regulations to comply with, while they were not getting the required price from the market.
Toyota & Kia Offers
To steer it through the worst period of crisis, Toyota Pakistan announced an ‘exclusive offer’ for newly launched Corolla Cross Hybrid Electric.
The company post read:
‘Book your Corolla Cross Hybrid Electric and get competitive markup/profit rates, lowest insurance rates, and priority delivery on your order through select banks.’
Quantifying the impact, Toyota Pakistan’s sales faced a hefty blow last year, decreasing by 63%. In this period, the staggering decrease of 70% in Corolla and Yaris’s sales shattered the company’s sales trajectory. Same was the situation with Fortuner and IMVs.
Kia’s Offer
With an aim to captivate the hearts of Kia lovers, the Korean car giant in the country came with a different offer – a simple cash-back offer on all variants of Sportage and AT variant of Picanto.
As per social media posts, the company is offering Rs. 50,000 cash back on the Picanto AT variant whilst Rs. 150,000 on all variants of Sportage. However, Sorento comes with interest-free installments starting from Rs. 8,999,000.
What’s your say regarding Pakistan Suzuki’s offer on Swift? Tell us in the comments section.
Another price decrease from Suzuki, what a surprise, no wonder they are making huge profits, cars were overpriced, just to remind a Proton Saga is cheaper than Suzuki Swift and it is a more family friend cars.