The demand for motorcycles in Pakistan has witnessed a sharp increase, driven by the substantial rise in petroleum prices. With the cost of fuel for cars becoming increasingly burdensome, many individuals have opted for motorcycles as a more cost-effective mode of transportation.
Caretaker Prime Minister Anwar-ul-Haq Kakar, who took office on August 14, 2023, witnessed a combined rise of 21 percent in petroleum prices during his one-month tenure.
Across three separate announcements, the price of petrol rose by Rs 58.46 per liter, constituting a remarkable 21.37 percent increase. Simultaneously, diesel prices increased by Rs 55.78 per liter, reflecting a substantial 20.40 percent hike.
This escalating trend towards two-wheelers in Pakistan is directly correlated with the soaring petroleum prices, making car travel increasingly unaffordable for the average citizen.
In the motorcycle market of Pakistan, both Atlas Honda and Pak Suzuki have reported significant month-on-month sales increases, with a 21 percent and 80 percent rise in motorcycle sales, respectively.
According to research conducted by Topline Securities, Pak Suzuki achieved remarkable sales figures in August 2023, selling 1,722 motorcycle units, indicating an impressive 80 percent month-on-month increase compared to the previous month’s sales of 957 units.
Notably, Pak Suzuki was forced to temporarily suspend its motorcycle production twice recently. Firstly, from August 18, 2023, until the conclusion of that month, and subsequently, from September 01 to September 12.
These production halts were necessitated by the overwhelming surge in motorcycle demand coupled with a scarcity of the necessary raw materials required for production.
Likewise, research from Arif Habib Limited reveals that Atlas Honda experienced a substantial 21 percent month-on-month increase in motorcycle sales. In August 2023, the company sold a total of 75,071 motorcycle units, a notable increase from the previous month’s sales of 62,012 units.
The surge in Honda motorcycle sales can be attributed to the growing number of individuals choosing Honda motorcycles for their dependable and affordable two-wheeled transportation.
Furthermore, the introduction of the new Honda CD 70 model has garnered significant attention from motorcycle enthusiasts across Pakistan.
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