CD70 to now cost Rs86,900
Atlas Honda has increased motorcycle prices by up to Rs5,000. The top-of-the-chain CB150F SE now costs Rs264,500 after a price hike.
Honda CB125F and CB150F prices have also gone up by Rs5,000. The high-end bikes will now be selling for Rs205,500 and Rs260,500, respectively.
Honda CD70, the highest selling bike in the country, will now be selling for Rs86,900 after a price increase of Rs2,400.
The cost of company’s other bikes, namely CD70 Dream, Pridor, CG125 and went up by Rs3,000. The new prices are Rs93,500, Rs120,500, Rs120,500, Rs142,500 and Rs170,500, respectively.
A source privy to the matter said that the rising material cost in the international market was making companies increase motorcycle prices.
Recently, Yamaha and several other Chinese bike assemblers also increased bike prices.
Sabir Sheikh, a motorcycle dealer and chairperson of the All Pakistan Motorcycle Assemblers, said the demand for motorcycles has been significant since the economy opened up after lockdown last year.
There were reports that the motorcycle faction of the automobile sector faced problems with delivery for the first time in at least 20 years because supply could not keep up with high demand.
Dealers were unable to deliver on time and motorcycles have been selling at their own money in the open market such as the famous Akbar Road in Karachi.
Own money is a price an investor charges from a customer who wants to buy a vehicle immediately. It is higher than the actual price of the vehicle.
Sheikh said that the industry is facing a supply problem, adding that delivery of parts and raw material has already been disturbed since the start of coronavirus.