Sixth time in 2023: Atlas Honda jacks up motorcycle prices in Pakistan
- Increase as high as Rs20,000, applicable from August 5
Despite falling sales, Atlas Honda is set to increase bike prices by up to Rs20,000, making it more difficult to buy the two-wheeler.
The new prices will come into effect from August 5, 2023, it was learnt on Friday.
The company is increasing motorcycle prices for the sixth time in 2023.
It last raised motorcycle prices between the range of Rs5,000 and Rs15,000 in May this year.
Following the latest price revision, Honda CD70 will now be sold at Rs157,900, with an increase of Rs3,000.
CD70 Dream price has also seen a similar price increase and its new price is Rs168,900.
Pridor will now be sold for Rs208,900, after an increase of Rs5,000.
CG125 price has been increased by Rs5,000 to Rs234,900, while CG125S’s new price is Rs282,900, following a hike of Rs7,000.
CB125F price has increased by Rs10,000 reach a new price of Rs390,900.
Meanwhile, prices of CB150F and CB150F (Silver) have been jacked up by Rs20,000 each and the new prices are Rs493,900 and Rs497,900, respectively.
Pakistan bike sales dropped 15% month on month and 42% year on year in June 2023.
Total three and two-wheel sales of PAMA members, including Atlas Honda dropped 35% in the fiscal year 2023 to 1.186 million units.
Chairman of the Association of Pakistan Motorcycle Assemblers (APMA) Muhammad Sabir Sheikh said the motorcycle segment, especially bikes having low engine size, is price sensitive.
“The pricier motorcycles means the sales will drop,” Sheikh told Business Recorder. “The volumes are already down and the price by motorcycle manufacturers means sales will drop further.”
Sheikh added that falling industry sales only means that the people associated with the industry would lose jobs.
“Motorcycles are mainly used by the working class. It means they are either losing jobs or that similar levels of jobs are not being created as before,” he said.
Comments
Comments are closed.