Suzuki Pakistan has followed in the footsteps of Atlas Honda by announcing price increases for two of its motorcycle models, the GR150 and GSX125. These price hikes, while significant, are not unprecedented given recent trends in Pakistan’s motorcycle industry.
Effective from September 15, 2023, the new price for the GR150 is Rs. 547,000, reflecting a substantial increase of Rs. 26,000 from its previous price of Rs. 521,000. Meanwhile, the GSX125 will now be priced at Rs. 499,000, up from Rs. 488,000, marking an increase of Rs. 11,000.
Suzuki Pakistan, in its notification, has clarified that these retail prices include the ex-factory product price and freight charges, which are applied to bikes delivered to dealerships. It’s important to note that these prices are subject to change without prior notice, and the rates at the time of bike delivery will apply. Additionally, any applicable government taxes will be borne by the customer.
While Suzuki has not provided a specific reason for the price hike, it is likely attributed to challenges in importing components, rising raw material costs, and the instability of the Pakistani Rupee against the US Dollar, which directly affects foreign exchange rates.
Despite claims of localization, motorcycle manufacturers like Yamaha and Suzuki still rely on importing significant components, making them susceptible to fluctuations in the USD exchange rate. In this scenario, a higher dollar rate unfortunately translates to higher motorcycle prices for consumers.