New rates to be applicable starting April 1
Pakistan’s top selling motorcycle company Honda has announced that it will be increasing its bike prices by Rs2,000. It is the third time company has increased its prices this year.
The new prices will be applicable from April 1. Earlier in January and February, the company increased bike prices by as much as Rs3,000 and Rs3,400, respectively.
The company will now be selling its top-of-the-chain CB150F for Rs252,900 after a hike of Rs2,000.
The country’s top selling motorcycle Honda CD70 also saw its price move up by Rs 1,000. It will now be selling for Rs82,900. The company jacked up CD70 Dream price by Rs1,000 and it can now be bought for Rs88,900.
Pridor 100cc price has also been increased by Rs1,000 and the bike will now be sold for Rs114,500.
CG125, CG125S-SE and CB125F-SE price have all been hiked by Rs1,600. They can now be bought for Rs136,500, Rs164,500 and Rs197,500, respectively.
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.