KARACHI: Atlas Honda and Yamaha on Monday notified a hike in prices of their motorcycles by up to Rs15,000 and Rs20,500, respectively.
Meanwhile, Suzuki has stopped taking new orders for bikes and the market expects it to announce an increase in the prices of its motorcycles soon, a media report said.
Honda raised the price of its CD70 model by Rs5,000 to Rs116,500. Meanwhile, it raised the cost of its top-of-the-line CB150F (Silver) price by Rs15,000 to Rs342,900.
Moreover, Yamaha’s low-end model YB125Z will now be sold for Rs273,000 after a price hike of Rs18,000. However, its top-of-the-line YBR125G variant saw a price increase of Rs20,500 and it is now priced at Rs312,500.
Other motorcycle makers such as United Auto Industries have also announced price increases.
The auto sector depends heavily on imports, especially on the imported auto-grade steel. Due to the low localization level, the rupee depreciation also affects car and bike prices.
Experts from the sector say that the hike in international prices of raw material and surge in freight cost post Covid-19 are primary reasons driving the increase in motorcycle and car prices. The two-wheel segment is not the only one that has seen a surge in prices because car prices have also risen up to 55% in the ongoing fiscal year.
Pakistan reportedly sold over 300,000 bikes in July as the industry reopened after several months due to the Covid-19 pandemic. This was the highest-ever number of bikes sold in a month in the country.
