Honda, Yamaha Increased Bike Prices
Atlas Honda and Yamaha Motors Pakistan have increased the prices of their motorbikes. The companies said they took the step after rupee devaluation against the US dollar.
Both manufacturers said the new prices will be applicable from tomorrow, July 1, 2020.
Honda Price Hikes:
According to notification by Atlas Honda, the prices are hiked up to Rs20,000. The notification said that the rate of Honda CD70 is increased by Rs1,400. Honda CG125 saw an increase of Rs2,400, while the prices of both CG125S and CG125Sse are hiked by Rs3,000 each. Meanwhile, CB150f saw the hike of Rs20,000.
After this latest revisions, Honda CD70 price will reach Rs76,900 from Rs75,500, while CG125 will now cost Rs128,900 from the previous price of Rs126,500.
Yamaha Price Hikes:
Meanwhile, Yamaha Motors has increased the prices of their motorbikes up to Rs6,000
According to the company’s notification, the new price of Yamaha YB125Z will be Rs151,000, with an increase of Rs5,000. Meanwhile, Yamaha YBR 125G will now cost Rs178,000, and Yamaha YBR125’s latest valuation is Rs169,000. Both vehicles saw a hike of Rs6,000 and Rs5,000 respectively.
Relaxation in Budget 2020-21:
It is pertinent to mention that the government removed Ambit of Advance Tax (AAT) on vehicles with engine power up to 200cc under Fiscal Budget 2020-21. During his Budget speech, Federal Minister of Industries and Production Hammad Azhar had said that the step is being taken to provide relief to lower strata of society.
The new price hike is expected to hit the already slow auto market in Pakistan. According to Pakistan Automotive Manufacturers Association (PAMA), 38,167 two and three-wheeler units were sold in May 2020. These sales are meager as compared to 154,782 vehicles in May 2019. The report said during the current fiscal year, the sales of bikes and rickshaws have seen a drop of 27% to 1.22 million units from 1.64 million units sold last year.
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