Automakers shock buyers with fresh price hikes

The auto assemblers on Wednesday again shocked buyers of bikes, rickshaws, cars and commercial vehicles with immediate price hikes in the range of Rs10,000 to Rs350,000. Lucky Motor Corporation Ltd (LMCL) jacked up the prices of various models by up to Rs350,000 citing no reason. The new rate of Picanto Automatic, Stonic EX plus, Sportage AWD and Sportage Black (Limited Edition) is Rs3.950 million, Rs6.280m, Rs8.920m and Rs9.650m as compared to Rs3.825m, Rs6.050m, Rs8.820m and Rs9.300m. Yamaha Motor Pakistan Ltd (YMPL) increased the prices of different models of motorbikes by Rs15,500-17,000 without mentioning any reason. After the price jump, the new rates of Yamaha YB125Z, YB125ZDX, YBR125, YBR125G and YBR125G (matt dark grey and matt orange) are Rs396,000, Rs423,500, Rs435,500, Rs453,000 and Rs456,000. Pak Star Automobile Private Ltd increased prices by Rs10,000-15,000 in 100-150cc loaders and 200cc auto rickshaws effective Sept 5 attributing the price hike to rising production cost on account of rupee-dollar parity, gas, power and petroleum products prices.