Lucky Motor Corporation Limited (LMCL) has become the first company to hike vehicle prices by up to Rs 11 lakh, passing on the brunt of the rupee’s devaluation to consumers.
According to the report of Dawn newspaper, in the circular issued to the dealers, the company said that the price of 2 models of 1000 cc of Picanto (manual and automatic) has been increased by Rs 5 lakh, after which their price will be Rs 31 lakh and Rs 32 lakh.
This is the price at which the 1800cc Honda Civic was available around 3 years ago.
The 3 models of Sportage (Alpha, FWD, and AWD) are now priced at Rs 6.25 lakh, Rs 6.75 lakh, and Rs 7.25 lakh, respectively, compared to Rs 5.535 lakh, Rs 5.858 lakh, and Rs. 63 lakh 63 thousand was Rs.
The new price of Stonic X and OnePlus models is Rs 45 lakh 45 thousand and Rs 48 lakh 48 thousand as against Rs 44 lakh 69 thousand and Rs 47 lakh 72 thousand.
The price of Sorento 2.4 LFWD has increased from 69 lakhs to 78 lakhs while the prices of 2.4 lowed and 3.5L have increased from 75 lakhs to 73 thousand to 85 lakhs.
The price of Carnival GLSPP has now increased from Rs 11 lakh 49 thousand to Rs 12 lakh 59 thousand.
The company said the new prices will not apply to customers who have paid in full by July 18 or who were told to deliver in June or earlier.
LMCL said bookings for the Picanto manual, Stonic, Sorento, and Carnival are ongoing for which customers need to make full booking payments, however, the company has yet to sell the Picanto automatic and Sportage (FWD and AWD models).
In this regard, an assembler said that in view of the strong increase in the value of the dollar yesterday and the uncertain future regarding the value of the rupee, we cannot make any specific predictions about the increase in the price.
In addition, Pak Suzuki Motor Company Limited (PSMCL) stopped production of the GS 150 SE (Special Edition) motorcycle from July 16 this month, despite the positive growth in sales. , the company in the circular did not give any reason to its dealers for stopping its production.