Suzuki Pakistan has joined the ranks of bike manufacturers raising prices, following Atlas Honda’s recent move. The company has just announced price increases for two of its popular models, the GR150 and GSX125. While these hikes may seem astonishing, they are becoming somewhat commonplace in the Pakistani bike market. The new prices went into effect on September 15, 2023.
- GR150: The new price for the GR150 now stands at Rs. 547,000, a significant increase from its previous price of Rs. 521,000. This marks a substantial jump of Rs. 26,000.
- GSX125: Suzuki’s GSX125 has also seen a revision in its pricing. It now retails for Rs. 499,000, up from its earlier price of Rs. 488,000, representing an increase of Rs. 11,000.
These prices include the ex-factory product cost and freight charges, which are applied to bikes upon delivery to dealerships. It’s important to note that these prices are subject to change without prior notice. The final price at the time of the bike’s delivery will be applicable, and any government taxes will be billed to the customer accordingly.
While Suzuki Pakistan has not officially disclosed the reasons behind this price hike, it is speculated that factors such as import challenges, rising raw material costs, and the unstable Pakistani Rupee (PKR) against the US Dollar are contributing to the increase. These factors directly impact the foreign exchange rate, affecting the overall cost of production. Despite claims of localization by bike companies like Yamaha and Suzuki, the importation of key bike components means that higher dollar rates translate into higher bike prices.
The trend of frequent price hikes in the bike market appears likely to continue, driven by economic and political instability. It may take several months for the automotive industry to recover from these challenges. In the meantime, consumers should brace themselves for a bumpy ride of uncertainty.