The ongoing depreciation of the Pakistani Rupee has led to a surge in prices, causing widespread difficulties for the population. The latest company to contribute to this trend is Atlas Honda (KLMC), which has raised prices by a staggering Rs. 30,000. During the quarter, the company’s sales decreased by 3 percent compared to the previous year’s record of Rs. 36.26 billion, due to multiple price increases.
Effective February 1, the price of new Honda bikes will be as follows:
|Model||Current Prices (Rs.)||Revised Prices (Rs.)||Increase (Rs.)|
|CD 70 Dream||129,900||137,900||8,000|
|CG 125 Special Edition||219,500||230,900||11,400|
|CB 125 F||283,900||303,900||22,000|
|CB 150 F||353,900||383,900||30,000|
|CB 150 F SE||357,900||387,900||30,000|
Last week, Atlas Honda Limited announced Rs. 1.408 billion profit for the quarter that ended December 31, 2022, depicting a 3.7 percent dip from Rs. 1.46 billion in the same period last year.
However, there was a positive note as sales increased by 19 percent quarter-over-quarter (QoQ). The increase in revenue was driven by higher volume sales, which rose by approximately 9 percent QoQ, with 272,638 units sold.
The recent production issues have negatively impacted bike sales and profits. In addition, Honda’s multiple price hikes in recent months have reduced demand for its products. Given the current economic climate, further price increases and reductions in sales are expected.