As the auto industry deals with the coronavirus pandemic by shutting down its operations to help prevent the spread of the disease; it will have to face multiple threats such as a decrease in demand and the increase in the US Dollar rate.
We have already started seeing the impact of the devaluation of the rupee over the past year but in these past few days, it has depreciated further forcing Road Price to hike the prices of its bikes.
The company has issued a notification indicating that they have increased the prices effective 1st April 2020.
It states, “Company has been promoting its Premier brands of Class 70cc and Passion Plus 70cc by subsidizing it. We cannot compromise in the quality of our products. So due to the increased cost of goods we are forced to increase Rs. 1,000 for the Classic 70cc and Passion Plus 70cc from April 1st 2020.”
You can see the new prices below:
|Model||Old Price (PKR)||Increase (PKR)||New Price|
|Passion Plus 70cc||53,000||1,000||54,000|
It is noteworthy that Road Prince is the first firm in the local auto sector that has hiked their prices for April and it is highly likely that other companies will follow in their footsteps.
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