ISLAMABAD, Aug. 1 (Xinhua) -- The Pak-Suzuki Motor Company (PSMC) has announced to increase the prices of its various car variants, effective from Aug. 1, 2018, local media reported Wednesday.

This is the fourth price hike for PSMC models in Pakistan this year. This time the automaker has increased the prices of its cars in the range of 20,000 Pakistani rupees (161.2 U.S. dollars) to 40,000 Pakistani rupees.

According to the auto sector analysts, the latest price hike was a result of the depreciation in the value of Pakistani rupees against U.S. dollar.

The PSMC had raised the prices of its cars models by 10,000-20,000 Pakistani rupees in January, followed by another hike of 20,000-50,000 Pakistani rupees in March, and 20,000-30,000 Pakistani rupees in June this year.

The PSMC issued a circular on Tuesday, which stated that the company has increased the prices of its Suzuki Mehran VX model to 769,000 Pakistani rupees from its earlier price of 739,000 Pakistani rupees. However, the Suzuki Mehran VX is set to be discontinued from November 2018.

Similarly, the new price of Suzuki Mehran VXR has been increased to 840,000 Pakistani rupees from its previous value of 795,000 Pakistani rupees.

Moreover, the prices of Suzuki Bolan and Bolan Cargo were hiked from 814,000 Pakistani rupees and 780,000 Pakistani rupees to 834,000 Pakistani rupees and 800,000 Pakistani rupees, respectively.

The automaker also increased the price of its Swift manual and automatic transmission variants to 1.475 million Pakistani rupees and 1.611 million Pakistani rupees, respectively, from their earlier rates of 1.435 million Pakistani rupees and 1.571 million Pakistani rupees.

The PSMC addressed its authorized dealers in the circular that the price will not be applicable on the old pending orders which failed to deposit their balance payment within the tentative delivery date of vehicles.

The PSMC's retail prices are inclusive of ex-factory product price and freight charges incurred on the vehicle to reach dealerships.