Pakistan Suzuki Motors Company (PSMC) recently disclosed a staggering loss of 10 billion rupees incurred last year, prompting Pak Suzuki to unveil an enticing opportunity for aspiring car owners.
According to PSMC’s recent announcement, individuals can now turn their dream of owning a car into reality with the assistance of Pak Suzuki and Habib Metro Auto Finance.
Pak Suzuki’s Offer
Teaming up with Habib Metro Auto Finance, Pak Suzuki presents a chance to realize significant savings on your dream car. Imagine saving up to Rs. 800,000 – a substantial amount that can significantly impact your budget. Moreover, with fixed rates as low as 18%, you can drive away with extra savings in your pocket.
Despite the challenges faced by the auto industry, Pak Suzuki persists in stimulating sales and profitability through a series of ‘Purchase’ and ‘Exchange’ bonus offers on popular models like Alto, Wagon R, and Swift.
Hefty Loss Last Year
Pakistan’s auto industry continues to grapple with adversity, marked by dwindling sales, production shutdowns, and burdensome taxation, with local car manufacturers bearing the brunt. PSMC, in particular, faced significant challenges in 2023, resulting in a staggering loss of Rs. 10.07 billion.
The primary factors contributing to this substantial loss were a sharp decline in sales and high taxation, as revealed in the company’s financial results for the year.
The sales decline was drastic, with net sales revenue plummeting by nearly 50% to Rs. 102.11 billion compared to the previous year. This decline was largely attributed to the company’s non-operational status for a significant portion of the year due to inventory shortages.
Despite the downturn in sales, Pak Suzuki managed to enhance its gross profit to Rs. 17.27 billion, up from Rs. 11.68 billion in the previous year. This improvement resulted in a better profit margin of 16.91%, compared to 5.77% in 2022.
