No respite in the new year for Bike Buyers

Written by
No respite in the new year for Bike Buyers

Yamaha Motor Pakistan Ltd (YMPL) has implemented a price increase of Rs14,000 on various models. Following this adjustment, the updated prices for Yamaha YB125Z DX, YBR 125 (in red, grey, and black), YBR 125 G, and YBR 125G (Matt) are now Rs454,000, Rs466,000, Rs485,000, and Rs488,000, respectively. The price for Yamaha YB125Z remains unchanged.

Similarly, the United Auto Industry has raised prices by Rs5,000 on 70-100cc alloy rim bikes, effective from January 8.

Consumers faced challenges in 2023 with multiple price hikes from assemblers, deterring potential buyers from the market.

For instance, Atlas Honda Ltd (AHL) increased prices by 30-39% in 2023, with models such as CDI 70 and CG125 experiencing significant price jumps.

Pak Suzuki Motor Company Ltd (PSMCL) raised prices by 39-44%, and YMPL increased prices by 30-35%. The depreciation of the rupee by 25% against the dollar in 2023 contributed to higher import costs for raw materials and finished goods.

Despite challenges, Japanese bike assemblers managed to stay afloat while Chinese-assembled bikes became more expensive by an average of 30% in 2023.

However, the Chinese bikes suffered reduced volumes due to restrictions on opening letters of credit and high raw material costs resulting from rupee devaluation.

Bike sector expert Mohammad Sabir Shaikh highlighted that the landscape of the two-wheeler market is expected to change by the end of 2024 with the commencement of local assembly of electric bikes.

The government has already issued 34 manufacturing licenses for electric bike assembly, with 11 more applications in process.

Article Categories:

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.