Country’s top selling motorcycle CD-70 is now worth Rs81,900
Atlas Honda has once again increased the prices of its motorcycles. Honda CD70, the most selling motorcycle in Pakistan, will now cost Rs81,900 after an increase of Rs2,400.
This is the second time Atlas Honda has increased its bike prices in January. The company has the biggest market share in the two-wheel segment of the auto industry.
Its top-of-the-line bike CB150F will now cost Rs250,900 after a hike of Rs3,400. The price of CB125F has gone up by a similar amount to Rs195,900.
The CD70 Dream motorbike will now cost Rs87,900, Pridor Rs113,500 and CG125 Rs131,900. The price of CG125S has been increased by Rs3,400 to Rs162,900.
The new prices will be applicable from February 1. Earlier in January, the company increased bike prices by as much as Rs3,000.
Chinese bike manufacturers United, Super Power, Hi Speed and Unique also increased their bike prices from Rs500 to Rs10,000. Yamaha announced that it would be increasing the bike prices too.
There has been a significant demand for motorcycles in the country since the lifting of the coronavirus lockdown in late 2020.
A few reports suggested that the motorbike section of the auto sector faced problems with the delivery for the first time in at least 20 years because of the gap in their demand and supply.
Dealerships were unable to deliver bikes on time and motorcycles had been selling at own-money in the market.
Own-money is the price an investor charges a customer, who wants to buy a car or bike immediately. It is above a vehicle’s actual price. It happens because manufacturers in Pakistan sometimes take months to deliver a vehicle. For instance, a customer has to make a partial payment to book a car, which will be delivered after two months upon full payment.
Sabir Shaikh, a motorbike dealer, said at the time the industry was facing a supply issue. The supply of parts and raw material had already been disturbed since the coronavirus hit the world.
“At first, production in China was disturbed starting November 2019 and then our industry closed down from March 2020 to May 2020,” Shaikh said. “Then there was an unprecedented and unanticipated surge in motorcycle sales from June onwards.”
China is the main supplier of raw material and parts for motorcycles in Pakistan. “Even those who had three months of inventory are now sitting empty-handed,” Shaikh said.
Even Chinese motorcycles such as Unique and Super Power were being sold at own-money, he added.