Pak Suzuki increases bike prices by 10%
- New rates are applicable from February 10
Pak Suzuki Motor Company on Thursday increased the prices of its motorbikes by around 10% owing to rupee depreciation. This is the second hike in bike prices in the past one month.
The new rates are applicable from February 10.
The GD110S model got pricier by Rs26,000 and it is now available at Rs290,000. Moreover, the price of GS150 rose by Rs29,000 to Rs315,000.
Atlas Honda increases motorcycle prices in Pakistan by up to Rs30,000
The GSX125 variant will now be selling for Rs422,000 following an increase of Rs38,000. The rate of GR150 rose by Rs41,000 to Rs451,000.
In late January, Pak Suzuki hiked the rates of its two-wheelers with the increase going as high as Rs25,000.
Speaking to Business Recorder, Association of Pakistan Motorcycle Assemblers (APMA) Chairman Sabir Sheikh said that the recent depreciation of rupee was the reason behind the 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 the prices of automobile parts and raw material spiked because stocks have depleted amid import restrictions.
In December, Yamaha notified an increase in bike prices by up to Rs13,500. Atlas Honda also jacked up prices of its motorcycles by up to Rs30,000, which came into effect from February 1, 2023.
Sheikh informed Business Recorder that several other local manufacturers have also jacked up the rates of the two-wheelers.
“Many small manufacturers have shut down their operations due to non-availability of parts and falling demand amid rising cost of production,” he said. “The low-end motorcycle segment has been affected the most 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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