KARACHI: Pak Suzuki Motor Company Ltd (PSMCL) has raised the prices of various models by up to Rs120,000.

In a circular issued on Monday, the prices of Alto VXR MT, VXR AGS and VXL AGS have been raised to Rs2.827 million, Rs2.989m and Rs3.240m from Rs2.707m, Rs2.894m and Rs3.045m, up by Rs95,000-120,000.

The price of the over three decades old Suzuki Ravi has been increased to Rs1.956m from Rs1.856m, showing a rise of Rs100,000.

The company attributed the price hike in all variants of Alto to upgradation to meet customers` expectations.

The company added that this enhancement improved safety and comfort, ensuring that the product continues to lead in terms of quality and reliability.

Overall, car demand usually goes up ahead of Eidul Fitr. Suzuki Alto 660 enjoyed good sales during July-January FY25, rising to 24,633 units from 16,388 a year ago. Consumers also prefer Alto for auto financing as the financing cap by the State Bank is Rs3m.

Pak Suzuki sold 3,177 units of Ravi compared to 1,733 during 7MFY24.

The price hike trend in vehicles has returned despite the stability of the rupee-dollar parity for over a year. Before this, some assemblers had been offering price discounts under promotional schemes to lure buyers, given the continuous drops in interest rates.