Atlas Honda Limited (ATLH) is eyeing $25 million in motorcycle exports in MY24. The company revealed this during a corporate briefing session to inform investors about its financial performance in MY23.
During the briefing, ATLH disclosed that it sold 1.1 million units in MY23 as compared to 1.3 million last year. The company aims to sell over 1 million units and expects industry volume to be between 1.3 and 1.5 million units.
ATLH further revealed that the localization level stands at 94.4% for CD70, 92% for CG125, and 84.3% for Pridor.
The company has not faced any difficulties in the import of raw materials and has up to 4 months of raw material in stock.
ATLH added that approximately 80% of Chinese players have left the industry due to import restrictions.
The company stated that EV bikes will take years to gain popularity as lithium-based e-bikes are not only expensive but also the global supply of lithium is limited as most of it is used in EVs.
Currently, e-bikes on sale in the country are made from lead-acid batteries, making them unreliable.
Where the domestic demand is concerned, 2/3 of the demand which comprises rural customers and remittances customers is intact. However, urban demand has been affected due to inflation.
