Suzuki Swift GLX CVT price raised by Rs304,000 to Rs5.4 million

Pak Suzuki Motor Company Ltd (PSMCL) on Tuesday raised the price of its model Swift GLX CVT by Rs304,000 to Rs5.429 million due to the hike in general sales tax on locally manufactured or assembled cars.

Earlier, the said car was priced at Rs5.125 million, which has now increased by 6.3 percent.

The hike was attributed by the company to the recent increase in GST from 18% to 25%.

On March 1, the company had already raised the price of Swift GLX CVT by Rs85,000, along with other cars, due to "inflation, higher overhead costs, and rising international raw material and freight charges".

Earlier, the government had imposed a 25% general sales tax (GST) on locally manufactured or assembled cars of 1400cc or above worth over Rs4 million.

The approval for slapping a 25 percent tax was granted by the Economic Coordination Committee (ECC) and the federal cabinet during the tenure of the former caretaker government.

According to the sources, other auto assemblers are also analysing the GST hike and "they would soon announce revised prices".