|
Getting your Trinity Audio player ready...
|
Pak Suzuki has introduced a new installment plan aimed at helping customers save up to Rs. 800,000 during these challenging times, in collaboration with Habib Metro Auto Finance to boost sales. The installment offer is designed to make Suzuki cars more accessible to consumers, facilitating the acquisition of brand-new vehicles without dipping into savings.
Under this partnership with Habib Metro Auto Finance, consumers can avail themselves of Suzuki cars without depleting their savings, potentially saving up to Rs. 800,000 through the installment scheme, which features fixed interest rates as low as 18%, ensuring additional savings for customers.
Read Also: Pak Suzuki’s Financial Struggles: Losses Mount in CY23, Delisting Imminent
Furthermore, Pak Suzuki is actively rolling out various purchase and exchange bonus offers on popular models like Alto, Wagon R, and Swift, aiming to inject sustainability into the company’s sales and profitability amidst industry challenges.
This recent initiative comes in response to Pakistan Suzuki Motors Company (PSMC) reporting substantial losses, reflecting the ongoing struggles of the automotive sector in Pakistan characterized by declining sales, production disruptions, and high taxation, with PSMC bearing the brunt of these challenges.
In 2023, PSMC incurred a significant loss of Rs. 10.07 billion, primarily attributed to a sharp decline in sales and elevated taxation levels, with net sales revenue plummeting by nearly 50% to Rs. 102.11 billion compared to the previous year, underscoring the operational hurdles faced by Pak Suzuki.
Despite the sales downturn, Pak Suzuki managed to improve its gross profit to Rs. 17.27 billion, reflecting an improvement from Rs. 11.68 billion in the corresponding period last year, resulting in a healthier profit margin of 16.91%, a notable increase from the 5.77% recorded in 2022.