Suzuki Pakistan to introduce new small car

Suzuki Motor Corp’s Pakistan unit, the nation’s biggest automobile assembler, plans to introduce a new small car this year as it projects the highest profit in six years, helped by the weaker yen.

The model will compete with other cars equipped with engines sized one litre and below, said Abdul Hamid Bhombal, chief financial officer of Pak Suzuki Motor, in an interview in Karachi on Monday, without giving details. Bhombal estimates profit to rise from last year, when net income rose 23 per cent to a five-year high of Rs978 million ($10 million).

The new car targets buyers opting for cheaper, second-hand imports such as Toyota Motor’s Vitz. Pakistan’s car sales fell by a quarter to 73,502 units in the eight months ending February, according to Pakistan Automotive Manufacturers Association. Pak Suzuki’s shares rose 0.9 per cent to Rs99.10 at 2:19pm in Karachi, compared with a 0.6 percent drop in the benchmark KSE-100 Index.

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