The motorcycle demand in Pakistan has gotten stronger with fuel and car price hikes ravaging the nation over the past few years. Hence, it ranks among the countries with the biggest motorcycle user base.
According to a report from Pew Research Center, 43% of the households across Pakistan use motorcycles, which places the country in the seventh spot, ahead of Nigeria, the Philippines, and Brazil.
Immediately ahead of Pakistan is India, with 47% of households that use bikes, followed by China, Malaysia, Indonesia, Vietnam, and Thailand with 60%, 83%, 85%, 86%, and 87% bike-using households respectively. Although the latest statistics have proven the potential for bikes in Pakistan, the volatile economy is impeding the industry’s growth.
Atlas Honda Limited — Pakistan’s biggest motorcycle manufacturer — recorded a decline in profit by 3.7% for the quarter that ended December 31, 2022. It also saw a 3% dip in the total sales revenue in the same quarter.
Given the recent production hiccups, bike sales, and profits are suffering. Furthermore, Honda announced multiple price hikes over the past few months, which has dampened its demand.
Given the current economic situation, more price hikes and sales reductions seem inbound.