Hi-Speed Increased The Price Of Its Bikes
Hi-Speed, owned by Raazy Motors (PVT) LTD is a renowned bike manufacturer of Pakistan. It is known for selling high quality locally produced bikes in Pakistan. It also has a few respectable Chinese bikes in its line-up. It imports it as CBUs and sells them in Pakistan. The products by Hi-Speed included bikes ranging from 70cc to 200cc bikes. It also has a few 2-wheeled loaders.
It recently announced a price hike for its entire bike line up. It is a massive hike, as the maximum price hike this time is said to be Rs. 20,000. As per the official circular, the new prices shall be effective from February 1, 2021.
As you can see in the circular that Hi-Speed indicates the deteriorating economy and business conditions to be the reason of this price hikes. Ironically, the periodic analysis of the rupee value against the dollar shows that the economy has seen stability after the lockdown was eased.
There is a high chance that other auto makers will increase the prices of their vehicles as well, as their first hike of this year.