As a result of the rupee’s dramatic decline in value against the US dollar, Atlas Honda and Yamaha announced price increases for their motorcycles of up to Rs15,000 and Rs20,500, respectively, on Monday.
Suzuki has stopped receiving new bike orders, and the market expects that it will shortly announce a price rise for its motorbikes.
Honda increased the cost of the CD70 model by 5,000 rupees, bringing it to 116,500 rupees. In the meantime, it increased the price of its top-of-the-line CB150F (Silver) model by Rs 15,000.
In addition, Yamaha’s entry-level YB125Z will now retail for Rs 273,000, following an increase of Rs 18,000. However, the price of its top-of-the-line YBR125G model increased by Rs20,500, making it now cost Rs312,500.
Other price hikes have also been announced by other motorcycle manufacturers, including United Auto Industries.
Because of the significant depreciation of the rupee, motorcycle producers are resorting to raising the prices of their goods, according to Association of Pakistan Motorcycle Assemblers (APMA) Chairman Sabir Sheikh.
In only the month of July 2022, the rupee fell by Rs 34.5, or 14.5 percent. After a little increase, the local currency on Monday ended the day at 238.84 versus the US dollar.
Sheikh stated that “motorcycle sales in Pakistan are declining because of rising prices, and the customer has less purchasing power.”
According to Sheikh, Chinese motorbike sales have decreased as a result of the increase in gasoline and vehicle prices since this market is price-sensitive. Chinese bicycles cost less than Japanese bicycles.