As the depreciation of Rupee continues, so does the price hike in the automotive industry. In a recent development, Yamaha motors has announced that they are increasing the prices of their bikes. The new prices are set to take effect from 1st July, 2o2o.
The price bump ranges from Rs. 5000 to Rs. 6000, depending on which bike you opt for. The company states that the latest price bump is due to the, “increase in the cost of production,” as a result of depreciation in local currency.
The last price bump came around February 2020, which is not too long ago. The reason for that price hike was also the depreciation of the local currency, as the dollar price had just gone from PKR 154 to PKR 168.
Here’s a comparison of old vs new prices as released by Yamaha:
|Bike||Old Price (PKR)||Revised Price (PKR)|
|YB 125 Z||146,000/-||151,000/-|
|YBR 125 ESD||164,000/-||169,000/-|
|YBR 125 G||172,000/-||178,000/-|
Among the major bike manufacturers in Pakistan, Yamaha was the first to publicly declare the revised prices for their products. Based on this, it is being speculated that Pak-Suzuki and Atlas Honda shall soon follow suit.
With the ongoing poor sales and the rapidly rising prices of both cars and bikes because of COVID-19 lockdowns, the entire Pakistani automotive industry is in dire straights. However, with the lockdowns set to conclude on July 1st 2020, it is likely for the business activity to pick up again, with the rejuvenation of supply and demand.