Honda plans to export motorcycles worth $25 million in 2024

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At a corporate conference to update investors on its financial performance in MY23, Atlas Honda Limited (ATLH) disclosed that it aims to sell $25 million worth of bikes in MY24, with Iran and Iraq being the two possible export markets for Pakistani motorcycles.

ATLH said during the conference that it sold 1.1 million units in MY23 as opposed to 1.3 million the year before. The company forecasts the industry volume to be between 1.3 and 1.5 million units, with a sales goal of above 1 million units.

The localization level for CD70 is 94.4%, for CG125 it is 92%, and for Pridor it is 84.3%, according to ATLH.

The company has enough raw materials on hand to last for four months and hasn’t had any issues importing them.

According to ATLH, due to import limitations, around 80% of Chinese players have departed the market.

According to the business, it will take years for EV bikes to become widely utilized because they are expensive and there is a limited quantity of lithium available globally because the majority of it is used in EVs.

Currently, lead-acid batteries are used to make unreliable e-bikes that are sold in the nation.

In terms of domestic demand, 2/3 of the demand, which consists of rural and remittance customers, is still present. However, because of inflation, urban demand has been impacted.