Pakistani automotive industry has undergone a lot of changes in the last few years, including the introduction of several new policies to encourage local production. These policies allowed for a huge influx of new carmakers and vehicles, resulting in increased competition and more choices for buyers.
While the automotive industry seems to be moving in the right direction, the motorcycle industry appears to be stuck in a dark age devoid of new products and improvements but still gets a plethora of price hikes every couple of months.
So far during the 2021 calendar year, Yamaha has increased the prices of its bikes four times (once each quarter). Pak Suzuki Motor Company increased its motorcycles’ prices thrice, and Atlas Honda takes the top spot for diabolically increasing the prices six times this year.
Here is how much the prices of all the popular motorcycles have increased in the 2021 calendar year to date:
Motorcycles | Price in January 2021 (PKR) | Price in October 2021 (PKR) | Increase since January 2021 (PKR) |
Atlas Honda | |||
CD 70 | 79,500 | 90,900 | 11,400 |
CD Dream | 85,500 | 97,500 | 12,000 |
Pridor | 110,500 | 125,500 | 15,000 |
CG 125 | 131,500 | 147,500 | 16,000 |
CG 125 SE | 159,500 | 177,000 | 17,500 |
CB 125 F | 192,500 | 212,000 | 19,500 |
CB 150 F | 247,500 | 267,000 | 19,500 |
CB 150 F SE | n/a | 271,000 | n/a |
Yamaha | |||
YB 125 Z | 163,000 | 184,000 | 21,000 |
YB 125 Z DX | 175,500 | 198,500 | 23,000 |
YBR 125 | 181,000 | 204,000 | 23,000 |
YBR 125 G | 190,000 | 213,500 | 23,500 |
PSMC | |||
GD 110 S | 181,000 | 194,000 | 13,000 |
GS 150 | 193,000 | 210,000 | 17,000 |
GS 150 SE | 210,000 | 227,000 | 17,000 |
GR 150 | 287,000 | 307,000 | 20,000 |
Motorcycle manufacturers have not missed a single opportunity during the last two years to increase the prices of their products. Each increase in the value of the US Dollar propelled most of them to bump up the prices of their motorcycles.
Two months ago, a senior motorcycle trader told the media that the prices of bikes are increasing due to upsurges in the costs of manufacturing. He stated that the prices of raw materials alone have risen exponentially.
He added that that the demand for motorcycles will continue to rise despite escalating prices because cars and fuel are becoming more expensive and local transport is deemed a less favorable option for daily commuters.
It may be argued that the price of USD trailed around Rs. 150 in May but the motorcycle manufacturers either remained silent or kept on elevating the prices.
The recent price hikes have put two-wheelers out of the reach of a majority of the public. Given these factors, there is an urgent need for the government to issue a dedicated policy for the motorcycle industry to allow more competition in the market for competitive pricing and also to regulate the price of the motorcycles to curb unnecessary price hikes.