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Tuesday, February 7, 2023
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Honda increases bike prices once again

The company has increased the prices of all the models of its bikes due to the larger cost of production and manufacturing of raw materials.

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Honda’s cheapest bike now costs over Rs 100,000 after another major price hike of its bikes. The company has continuously kept on increasing its prices for all the models of cars and now it’s the third major price hike in the year 2022.

After the company announced it was to increase the prices of the bikes it then also issued a list of revised prices for all the models and distributed it amongst all its resellers and dealers.

The CD 70 motorbike is suggested to be sold at Rs. 102,900 against its current price of Rs. 99,900 with a difference of Rs. 3000. Similarly, model CD 70 Dream has a revised price of Rs. 109,500 against its old price of Rs. 106,500. Furthermore, Honda Pridor has also experienced a price hike of Rs. 3,000 with its new price being Rs.139, 900.

Read more: Why did Honda increase its car prices?

Likewise, CG 125 now costs Rs. 163,500 against its old price of Rs. 159,500 and CG 125 SE has a new price of Rs. 193,500 compared to its old price of Rs. 189,500. Additionally, the model CB 125F has also experienced a major jump of Rs. 8,000 against its old price of Rs. 236,900, and the model CB 150F also has a difference of Rs. 8,000 in its new price i.e. Rs.299,900. Lastly, the Honda CB 150F SE bike now costs Rs. 303,900 compared to its old price of Rs. 295,900.

What’s causing the price hike?

The company has increased the prices of all the models of its bikes due to the larger cost of production and manufacturing of raw materials. Similarly, the rupee devaluation against the dollar has also affected the costs of import of raw materials.

Moreover, the Ministry of Industries and Production (MoIP) have taken notice of the latest price hike of the company and has reported that 90% of the country’s bike industry is localized.

Read more: Honda to spend $64 billion on electric vehicles

Additionally, most of the mechanical and structural components of the bike are made in Pakistan while only a few are imported. However, despite manufacturing bikes with basic components the companies continue to increase prices in the country and make them less affordable to the buyers.