Atlas Honda increases motorcycle prices in Pakistan by up to Rs30,000
- Import restrictions, hike in cost of production influence company to increase rates
Atlas Honda on Tuesday jacked up prices of its motorcycles by up to Rs30,000, driven by significant depreciation of Pakistan rupee, import restrictions and spike in cost of production of automobiles.
Motorcycle dealers told Business Recorder that the company had sent the notification of revised rates.
The new prices will come into effect from February 1, 2023.
Pak Suzuki suspends motorcycle bookings amid supply chain constraints
Following the hike, the price of Pakistan’s most prominent two-wheeler, CD70, rose by Rs7,400 to Rs128,900.
However, a dealer told Business Recorder that bikes were selling above the company specified prices. For instance, the CD70 is being sold for as much as Rs132,000, he said.
“Moreover, own-money of Rs20,000 is being demanded for motorcycles that have a higher engine capacity,” another market source said.
Honda Atlas raises car prices by up to Rs550,000
The rate of Honda CD70 Dream has been jacked up by Rs8,000, taking the revised price to Rs137,900. Atlas Honda’s Pridor variant is now available for Rs170,900 following an upward price revision of Rs9,000. The rate of CG125 surged by Rs9,000 to Rs194,900.
After an increase of Rs11,400, the new price of CG125S is Rs230,900. The rate of CB125F has risen from Rs219,500 to Rs305,900. The price of CB150F and CB150F (Silver) have been hiked by Rs30,000 and they are available for Rs383,900 and Rs387,900 respectively.
Earlier, Pak Suzuki also hiked the rates of its two-wheelers with the increase going as high as Rs25,000. The new rates will be effective from February 1.
Speaking to Business Recorder, Association of Pakistan Motorcycle Assemblers (APMA) Chairman Sabir Sheikh said the recent depreciation of rupee has been the reason behind sharp hike in motorcycle prices.
He added that the cost of production for the automobile sector has swelled significantly.
“Moreover, banks aren’t opening the letters of credit (LCs) which is hindering the import of auto parts and as a result, there is a general shortage of components in the market.”
Another source in the industry stated that automobile components and raw material are selling at very high prices in the market because stocks have depleted amid import restrictions.
In December, Yamaha notified an increase in bike prices by up to Rs13,500. According to a notification sent to the bike dealers, the new rates became effective from January 4, 2023.
Sheikh informed that several other local manufacturers have also jacked up the rates of the two-wheelers.
“Many small manufacturers have shut down their operations down due to non-availability of parts and falling demand amid rising cost of production,” he said. “The low-end motorcycle segment has been the most affected since it is highly price sensitive. Many motorcycle buyers are now purchasing bikes on installments as they are unable to purchase on spot due to persistent rise in rates.”
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