The automotive industry in Pakistan has witnessed its first price hike following the announcement of the Budget 2023-24. This increase in prices is expected to have a significant impact on cars and motorbikes, as taxes and customs duties have been raised. Consumers can anticipate further price jumps in the coming days due to these changes.
Yamaha, a well-known motorcycle brand, has revised the prices of its bikes. The Yamaha YB125Z (Black) now costs Rs. 380,500, experiencing a price increase of Rs. 24,500. The Yamaha 125Z-DX (Red, Blue, Black) has jumped from Rs. 381,500 to Rs. 408,000, marking a difference of Rs. 26,500. The popular Yamaha YBR 125 (Red, Blue, Black) has seen a price hike of Rs. 27,500, reaching Rs. 419,000 from its previous rate of Rs. 391,500. The Yamaha YBR 125G (Red/Black) is now priced at Rs. 436,000, witnessing an increase of Rs. 29,000. Lastly, the Yamaha YBR 125G (Matt Dark Gray/Matt Orange) has jumped to Rs. 439,000 from Rs. 410,000, representing a hike of Rs. 29,000.
The constant price increases have created challenges for the automotive industry, hindering sales growth. Automakers are forced to raise prices due to new taxes and the devaluation of the Pakistani rupee. Moreover, manufacturing operations have faced obstacles due to issues related to letters of credit (LCs), further impeding progress in the sector.
