Mr. Masafumi Harano has been officially appointed as the new Chief Executive Officer of Pak Suzuki by the Board of Directors of the company.
Masafumi Harano has been associated with Suzuki Motors Corporation for a long time. He was responsible for Suzuki’s overseas automobile marketing in Southeast Asia and North America, as well as the company’s auto product planning department in Hamamatsu, Japan.
The appointment of the new CEO will bode well for the Pakistan’s highest selling cars brand as the overall automobile industry is witnessing a phase of expansion and growth. The industry also sees a period of high demand of cars along with increasing competition among the local players with the onset of new entrants.
There is a likelihood of a shift in policy especially the investment approach and aggressive strategy of the company during the next three to five years in which the demand is expected to increase.
Suzuki is the highest selling brand in Pakistan. It recently introduced new car models including Suzuki Vitara, Suzuki Ciaz and the rebranded Suzuki Celerio launched as Cultus. Suzuki Mehran and Sukuzi Wagon R are in high demand in the local market whereas it has been preferred by the Punjab Government for launching Taxi or Pickup schemes in the province as well.
Pak Suzuki Company Limited (PSMC) has attained a benchmark of Rs. 1 billion quarterly profit in the first quarter of 2017.
The company had planned to invest $460 million on its expansion of productions assembly and relevant operations but the decision is reportedly under pressure due to the government’s unclear regulatory policies and taxation issues.