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Pakistan’s motorcycle manufacturers are set to increase product prices soon to absorb the impact of high costs of production and a weak rupee.
Yamaha, a Japanese motorcycle manufacturer, has raised its prices by up to Rs12,000 from February 11, and other manufacturers are expected to follow suit at any time.
“We are expecting notification from other bike makers soon,” said Sabir Sheikh, Association of Pakistan Motorcycle Manufacturers (APMA), mentioning, “We get the information from dealers and suppliers, who inform us about potential price hikes.”
He said that rising prices are being attributed to rupee depreciation, increases in international commodity prices, higher energy costs, and increased freight charges.
Data from the Pakistan Automotive Manufacturers Association (PAMA) showed that bike sales increased significantly from 2016 to 2018, with a slowdown in 2019, a drop in 2020, and a return to normal in the fiscal year 2021.
Recently, Japanese motorcycle manufacturers – Honda, Yamaha, and Suzuki – have increased their market share against low-cost Chinese motorcycle manufacturers.
According to PAMA members, the segment has grown over the last 20 years, from 86,000 in the fiscal year 2000 to 1.9 million in the fiscal year 2021. According to government officials, total bike sales in FY2021 will be 2.6 million.
