Yamaha jacks up bike prices owing to hike in sales tax

Yamaha Motor Company increased prices of its motorcycles in the range of Rs3,000-Rs3,500 to pass on the impact of the increase in sales tax from 17% to 18% to the customers. The new rates are applicable from February 21 onward.

Yamaha YB125Z will now be selling for Rs308,500 after an increase of Rs3,000. YB125Z DX new price is Rs330,500 after an increase of Rs3,500. The rate of YBR125 also went up by Rs3,500 and the new price is Rs339,500.

The cost of YBR125G has surged by Rs3,500 and the new price is Rs353,000 and Rs356,000 (for matt dark gray).

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On February 20, the National Assembly passed the Finance (Supplementary) Bill, 2023, proposing additional taxes and duties of Rs170 billion to implement the understanding reached with the International Monetary Fund (IMF) for the resumption of the Extended Fund Facility.

The bill also enhanced sales tax from 17% to 18%. Following the increase, some auto companies – Suzuki, Kia and Yamaha– announced that they will be passing on the impact to the consumers.

Previously on January 4, Yamaha increased prices of bikes by up to Rs13,500, driven by import restrictions and spike in cost of production of automobiles.

Yamaha Motor Pakistan increases bike prices by up to Rs13,500

Association of Pakistan Motorcycle Assemblers (APMA) Chairman Sabir Sheikh said that the demand for motorcycles has significantly gone down amid price increase and inflation.

“Although the supply is affected due to CKD import issues and dealers are not getting the units, there are very few buyers in the market,” said Sheikh.

Sheikh owns nearly half a dozen motorcycle shops at Karachi’s biggest motorcycle market at Akbar Road.