Pak Suzuki Motors has bought a piece of land covering 80 acres in order to build a new manufacturing plant to add additional 100,000 units to its existing production.
Pak Suzuki is looking to invest $460 million to complete this project, the company has already procured a piece of land next to the existing manufacturing unit, Pakistan Today reported.
According to the reports the Auto Industry Development Committee (AIDC) has scheduled a meeting for Wednesday in order to discuss the auto development policy in the country, Pak Suzuki hopes to get a Greenfield status for its new manufacturing plant, the sources said, PM’s advisor on industries and production is going to grant Greenfield status to Pak Suzuki’s new plant.
Razzaq Dawood, PM’s advisor on Industries and Production is also invited to inaugurate Suzuki’s 2,000,000 car in Karachi on Monday. The company is planning to introduce 4 new cars in the market.
During the first quarter of the current fiscal year 2018-19 the company sales were dropped significantly by 8.3 percent, the company sold 42,914 units as compared to the same period last fiscal year which stood at 46,491 units.
It was also reported that Suzuki witnessed a decline in Mehran sales during the month of August 2018, this was probably after the news that the company is going to end the production of Mehran.
Suzuki is also facing a serious decline in selling Bolan and Ravi vehicles, the sales fell by 22 percent and 21 percent respectively during the first four months of the current fiscal year.
However, the overall sales were compensated by Suzuki Wagon R and Suzuki Cultus which were increased by 21 percent and 9 percent respectively.
Suzuki hopes to regain its market position and improve sales after launching four new models in Pakistan. The company is also focused on starting the new production plant as soon as possible.