PSMC offers free WagonR registration amid sales slump

PSMC offers free WagonR registration amid sales slump

KARACHI: Pak Suzuki Motor Company (PSMC) has announced free registration on booking of all variants of Suzuki WagonR for the limited time offer only.

The decision has come after significant decline of motor vehicles recorded in the first two months of the current fiscal year.

The company stated that the offer is valid on all WagonR variants across Suzuki’s Authorised Dealerships.

According to recent report, the volumetric sales of Pak Suzuki plunged by 41 per cent to its 27-month low to clocked in at 3.9k units in August 2022, wherein Ravi sales fell by 72 per cent, followed by Alto and Cultus, which are down by 50 per cent and 38 per cent, respectively.

READ MORE: Suzuki Motor announces further plant shutdown in Pakistan

The slump in sales has been witnessed due to restriction imposed by the State Bank of Pakistan (SBP) on import of Completely Knocked Down (CKD) unit. The import of CKD is subject to prior approval of the SBP.

In this regard, the company announced on September 07, 2022 further plant shut down due to shortage of raw material following restriction imposed by the central bank.

The company in a communication sent to Pakistan Stock Exchange (PSX) on September 06, 2022, stated that the State Bank of Pakistan (SBP) had introduced a mechanism for prior approval for import under HS Code 8703 category including CKD through a circular No. 09 of 2022 dated May 2022.

Restriction had adversely impacted clearance of import consignment which resultantly affected the inventory levels, the company added.

READ MORE: New prices of Suzuki cars in Pakistan from August 16, 2022

Therefore, due to shortage of inventory level, the management of the company has decided to shut down period of automobile plant till September 09, 2022.

According to details of WagonR, on which the company granted free registration, are:

The car has a naturally aspired 998cc three-cylinder petrol engine that sends 67 horsepower (hp) and 90 Newton-meters (Nm) of torque to the front wheels through a five-speed manual or an AGS automatic transmission, depending on the variant.

Some of the basic features include dual airbags, AC, power windows (VXL and AGS only), immobilizer, central locking, power steering and child locks.

READ MORE: Pakistan car sales plummet by 50% on import restriction

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