- Increase to come into effect from June 1, 2022
Atlas Honda hiked prices of its motorcycles in the range of Rs3,600-9,000, with new rates kicking in from June 1, said dealers on Monday.
Speaking to Business Recorder, Association of Pakistan Motorcycle Assemblers (APMA) Chairman Sabir Sheikh stated the reasons cited by motorcycle manufacturers for hiking prices include spike in raw material cost, surge in global freight rates and persistent rupee devaluation.
The rupee closed at 199.06 after a day-on-day appreciation of 70 paisas or 0.35% on Monday, but has still registered a fall of nearly 7% during May alone.
“Other motorcycle companies such as Unique, United Motors and Road Prince have also raised prices of their products,” he said.
Honda CD 70 saw a hike of Rs3,600, and is now priced at Rs106,500.
Similarly, the CD70 Dream variant would now be available at Rs113,500 after a surge of Rs4,000.
The Pridor model will now be sold at Rs144,900 following an increase of Rs5,000.
The cost of CG125 and CG125S has been hiked by Rs5,000 to Rs168,500 and Rs198,500, respectively.
The price of Honda CB125F has been increased from Rs244,900 to Rs253,900, an increase of Rs9,000.
The CB150F variants also witnessed price revisions of Rs9,000 as the rate of CB150F (red, black) has been increased to Rs308,900 while CB150F (red, black) will be sold at Rs312,900 from June 1 onward.
Atlas Honda has been raising bike prices every month since March 2022.
Uptrend in car prices
The two-wheel segment is not the only one that has seen a surge in prices because car prices have also risen up to 55% in the ongoing fiscal year.
Experts from the sector say that the hike in international prices of raw material and surge in freight cost post Covid-19 are primary reasons driving the increase in motorcycle and car prices.
The auto sector is heavily dependent on imports, especially auto grade steel and plastic resins. Moreover, the sector has low localisation level and most parts are imported. Therefore, the depreciation of the rupee also affects car and bike prices.