Pak Suzuki hikes motorcycle prices by up to Rs20,000

Pak Suzuki Motor Company on Monday hiked prices of its motorbikes by up to Rs20,000, with the new rates coming into effect from May 9.

According to a notification issued by the company, the GD110S model got pricier by Rs13,000 to Rs335,000. Moreover, the rate of GS150 rose Rs14,000 to Rs364,000.

The GSX125 variant will now be sold for Rs488,000 after an increase of Rs19,000. The rate of GR150 rose by Rs20,000 to Rs521,000.

Meanwhile, the company will also sell GW250JP at a price of Rs1.04 million. An industry source told Business Recorder that “the company supplied this bike to the police and now it has some spare units in store, which it put it up for sale to the public after around five years”.

The company last increased motorcycle prices by up to Rs50,000 in April 2023.

Earlier, Atlas Honda and Yamaha Motor Pakistan also raised prices of their motorcycles.

Atlas Honda announced the increase in price of its motorcycles in the range of Rs5,000-15,000, which came into effect from May 1.

Yamaha Motor announced a hike in prices of its motorcycles in the range of Rs13,500-15,500 with the new rates came into effect from May 4.

Earlier this month, Pak Suzuki announced to shutdown of its motorcycle plant from from May 2, 2023 to May 9, 2023 due to inventory shortage as import restrictions continue to hit the auto sector.

Much like the overall economy, Pakistan’s auto industry is going through tumultuous times. It is one of the sectors most affected by rapid depreciation of the rupee and Letter of Credit (LC) issues, which arose due to depleting foreign exchange reserves because the sector is highly dependent on imported auto parts and raw material.

Other listed companies including Toyota and Honda have also been forced to halt production in recent months due to economic difficulties that have seen central bank foreign exchange reserves drop to a level barely able to cover four weeks of imports, leading the government to impose import restrictions.