ISLAMABAD – Pak Suzuki Motor Company Ltd (PSMCL), the manufacturer of the renowned Suzuki cars in the country, has announced a substantial increase in the price of the Swift model. This price adjustment comes in response to the government’s imposition of a 25% General Sales Tax (GST) on cars with a pricing exceeding Rs 4 million.
Following the implementation of this tax, the price of the Swift GLX CVT has been raised by Rs 304,000, now standing at Rs 5,429,000. Previously, the car was available at a price of Rs 5,125,000.
Also Read: Haval Car Prices Drop by Up to Rs. 400,000
Here is a summary of the price change:
Model: Swift GLX CVT
Old Price: Rs 5,125,000
New Price: Rs 5,429,000
The new tax amendments by the government target locally manufactured or assembled vehicles with an engine capacity of 1400cc and above. Additionally, the tax applies to locally manufactured or assembled vehicles if their invoice price (excluding sales tax) exceeds Rs. 4 million. The tax also extends to locally manufactured or assembled double cabin (4x) pick-up vehicles.
This adjustment in car prices underscores the impact of tax policies on the automotive industry, with manufacturers passing on the increased costs to consumers. It reflects a broader trend where taxation decisions influence the pricing dynamics of various goods and services in the market.
