Honda increases bike price yet again for the sixth time as the Pakistani rupee continues to fall against the US dollar.
The makers of Honda bikes in Pakistan Atlas Honda, the makers of Honda bikes in Pakistan, has hiked the prices of its motorcycles by Rs. 2,600 to Rs. 8,000. This is the sixth increment in the prices for Honda within a year.
The structure after Honda Increases Bike Price is as follows:
|Models||Price Increase||New Price|
|Honda CD 70||2600||69500|
|Honda CD Dream||2600||73500|
|Honda CG 125||3600||114500|
|Honda CB 150F||8000||187000|
The recent dollar appreciation against the Pakistani rupee was the main reason behind the Honda increases bike price.
Despite the price hike, Honda’s sales have gone up by 3.66% as the company sold 373,698 units in 4MFY19, as compared to 360,516 units in the same period last year.
Chairman of Association of Pakistan Motorcycle Assemblers, Mohammad Sabir Sheikh, told the local media that the hike is due to rupee depreciation against the greenback as it pushes up the cost of imported parts.
He further said that the cost of imported sheet metal has also rises due to the increase in customs duty.
The chairman further stated that the surge in Honda prices in December had been the highest as previously the company used to jack up prices within the range of Rs. 400-5,000 on different models.