Car-makers unlikely to cut prices despite threats of imports

KARACHI: The automobile assemblers are likely to stay resilient against Prime Minister Yousuf Raza Gilani’s recent warning that car imports will be liberalised if the local companies do not lower their prices, a brokerage house report said on Wednesday.

The automakers are more likely to throw the ball in the government’s court and demand incentives in the upcoming budget such as cut in import duty on complete knock down kits (CKDs) to lower car prices, a report from the KASB Research said.

Pak-Suzuki raises car prices by Rs15,000

 KARACHI: The Pak-Suzuki Motor Company Limited again raised prices of various models from Rs10,000 to 15,000 on Saturday.
On March 3, the company had raised prices of its newly-introduced Swift car by Rs50,000 to Rs1,049,000 from Rs999,999.

The new price of Suzuki Mehran VXR would be Rs529,000 as compared to Rs519,000 while Alto VXR rate will be Rs679,000 as compared to Rs667,000.

Pak Suzuki prices up

 Thursday, December 31, 2009
By our correspondent

KARACHI: Pak Suzuki Motor Company (PSMC) has scaled up its car prices (excluding Liana) by Rs10,000-25,000.

According to an auto analyst, this surge is in response to rising cost pressures amid appreciation of foreign currencies against the rupee. US dollar and Japanese yen have appreciated by 3.4 per cent and 8.3 per cent respectively since July 1, 2009. This rise in car prices will be effective from January 1, 2010.

VW to buy stake in Suzuki for around 1.72 billion euros

FRANKFURT: German car giant Volkswagen and Suzuki of Japan revealed an alliance on Wednesday to give VW a solid footprint in the Indian automarket for about 1.72 billion euros (2.53 billion dollars).
 
One analyst said the cash-and-share deal could also accelerate restructuring of the global automobile industry.
VW is to buy a 19.9-per cent stake in Suzuki by January 2010, and Suzuki would also acquire a stake in Europe’s biggest carmaker, a joint statement said.