With the surge of rupee against dollar both in the open and interbank market has resulted in a significant increase in bike prices.
Atlas Honda Ltd (AHL) has told its authorised dealers that there would be an increase in prices of various models of bikes by rupees six hundred to five thousand. Authorised dealers were notified of this price increase on Monday. They were further told that the new prices would be effective from the 1st of August.
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Atlas Honda had already increased the bike prices twice earlier. The first time the prices were raised in the month of January by rupees five hundred to rupees thousand and later in April by rupees five hundred to rupees three thousand, despite attaining an over ninety-four per cent localisation.
NJ Auto Industries has also taken the decision of increasing the prices of Super Power bikes by rupees one thousand, to be implemented from the 5th of August.
Many assemblers of Chinese bike and auto rickshaw have already increased their prices by rupees one thousand to rupees four thousand during the time span of 23rd July to 1st August owing to rupee devaluation and the increase in the prices of materials available in the market.
DS Motors has also increased the price of Unique 70cc bikes by rupees thousand and the price of Unique 125cc by two thousand rupees from the 1st of August.
Before rupee started attaining stability in the interbank and open market, car assemblers have already increased one per cent additional import duty on the consumers owing to the rupee depreciation against the dollar from the start of this year until July.
Pak Suzuki Motor Company Ltd has also increased its prices for the third time by twenty thousand to thirty thousand rupees in June, after increasing prices in March and January.
Indus Motor Company (IMC) has also raised its rates thrice in the span of last six months.
It could not be said with clarity that whether the bike assemblers would decrease the prices after rupee recovery against the dollar or would further increase the prices for making up the earlier impact of the exchange rate.
On the other hand, the local gold prices are also experiencing a downward slope since the 21st of July due to the improving value of rupee.
The price of one tola gold has fallen by rupees one thousand eight hundred and fifty and the price of 10 grams of gold price has fallen by rupees one thousand five hundred and eighty-six.