ISLAMABAD: A Series of tax impositions on import proposed in the Federal Budget 2o24-25 can lead to the rise in the prices of of all motor vehicles. The new tax-oriented budget can also affect the price of Honda bikes including Honda CD 70, Honda CG 125, Honda CD 70 Dream, and Pridor.
Honda has a strong market presence in Pakistan with their Honda CD 70, CG 125, and Pridor being very popular in the country.
Market experts indicated that the Honda Pridor 100cc account for more than 40% of the market.
Earlier, the federal government has also ended import tax exemptions on various items including luxury vehicles, particularly those worth $50,000 or more, which will now face increased taxes and duties.
The government has decided to set a tax collection target of Rs12,970 billion during the upcoming fiscal year which will be carried out through an increase in income and sales tax collection along with the rise in import duties on luxury items and broadening tax net by inducting more taxpayers.
An increase in sales tax and import duties on raw materials can increase the price of Honda Pridor 100cc and other motorbikes in the upcoming months.
However, despite fluctuations in the rupee’s value, the Honda Pridor 100cc remains the top-selling motorcycle, surpassing numerous competing local models.
Nonetheless, escalating prices pose affordability challenges for prospective buyers interested in purchasing the Honda Pridor 100cc and similar models.
As of June 2024, the Honda Pridor remains unchanged at its current price of Rs 208,900.
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