Pak Suzuki Motor Company Limited has unexpectedly reduced the prices of various Swift car models by up to Rs 710,000 from May 1.

The move comes as a respite for consumers, especially after the company's previous price hike in March.

According to the company's notification to official dealers, the Suzuki Swift GLMT will now be available at Rs 4.33 lakh, up from Rs 4.42 lakh.

The price of the Swift GL CVT model has been significantly reduced by Rs 159,000, making it affordable at Rs 4.56 lakh. Meanwhile, the Suzuki Swift GLX CVT saw the highest price cut of Rs 710,000, bringing its price down to Rs 4.71 million from Rs 5.42 million.

This price cut comes as a welcome respite for consumers who were already hit by a price hike of Rs 1.8 lakh crore in March. The company cited the depreciation of the Pakistani rupee as the reason for the previous price increase.

Interestingly, in March, Honda Atlas Cars Limited also reduced the prices of its City MT 1.2L and City CVT 1.2L to Rs 14,00,000. The move was seen as a strategic move to increase sales and remain competitive in the market.

Interestingly, Honda Atlas Cars Limited has also reduced the prices of its City MT 1.2L and City CVT 1.2L models in March to Rs 1.4 lakh. The move was seen as a strategic move to increase sales and remain competitive in the market.

Although Pak Suzuki did not reveal the reasons for this price cut, industry experts believe that it could be a response to the recent increase in the General Sales Tax (GST) rate on locally assembled vehicles, from 18% to 25%.