Karachi (National Times)- After Atlas Honda, Pak Suzuki Motor Company has also jacked up prices of its motorcycles with the increase in the range of Rs15,000 to Rs20,000. The higher rates went into effect from November 1.

Suzuki GD110S will now sell for Rs244,000 after an increase of Rs15,000. GS150’s price also went up by Rs15,000. The new price is Rs266,000.

The company increased the price of its top-of-the-line GR150’s price by Rs20,000. The new price is Rs385,000.

Meanwhile, Suzuki’s newly launched GSX125 is selling for Rs359,000.

Atlas Honda hikes bike prices by up to Rs15,000, new prices to come into effect from Nov 1

Industry experts say the automobile industry is currently going through a turbulent phase due to import restrictions put in place by the government.

According to Association of Pakistan Motorcycle Assemblers (APMA) Chairman Sabir Sheikh, Chinese motorcycle manufacturers have been the worst-hit with their sales falling by nearly 80% while those of Suzuki and Yamaha bikes have also dropped by 20%.

Another industry source said prices of bike raw material such as steel have also witnessed a sharp hike due to government’s import restrictions.

In an effort to ease pressure off foreign exchange reserves, the government fixed import quotas for the automobile industry in May 2022.