The biggest player in the two-wheeler segment in Pakistan, Honda Atlas has increased motorcycle prices between the range of Rs9,000 and Rs35,000. This is the second time the company has increased rates in February. The new rates came into effect from February 15.
Earlier this month, the company increased motorcycle prices between the range of Rs7,400 and Rs30,000.
Industry sources say the prices have been jacked up due to the adverse movement in the rupee against all major currencies and the rise in cost of manufacturing.
The new price of CD70 is Rs137,900 after an increase of Rs9,000.
The price of CD70 Dream has been jacked up by Rs9,600. The new price is Rs147,500.
Pridor will now sell for Rs181,500 after an increase of Rs10,600.
The price of CG125 has crossed the Rs200,000 mark after a price hike of Rs11,000. The new price is Rs205,900.
CG125 S will now be selling for Rs243,900 after an increase of Rs13,000.
The new price of CB125F is Rs330,900 after an increase of Rs25,000.
CB150F will now be selling for Rs418,900 after an increase of Rs35,000. CB150F’s (Silver) new price is Rs422,900 after an increase of Rs35,000.
Association of Pakistan Motorcycle Assemblers (APMA) Chairman Sabir Sheikh said the steep price increase was in the aftermath of the Finance (Supplementary) Bill, 2023, dubbed as the mini-budget.
Dar announced various amendments that feature taxation measures of Rs170 billion (approximately $640 million) in an effort to convince the International Monetary Fund (IMF) to revive its bailout programme.
Sheikh says the increase in sales tax by 1 percentage point to 18% and custom duties may have been the reason for the second price hike in the ongoing month.
The depreciation of the Pakistan rupee has prompted most of the auto companies to jack up car and motorcycle prices as the sector highly depends on import of auto parts and raw material.
For details on price-increases announced by car manufacturers in 2023, click here.
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