Atlas Honda Limited (ATLH) aims to sell $25 million worth of bikes in MY24, with Iran and Iraq being the two possible export markets for Pakistani motorcycles.
ATLH said during the briefing that it sold 1.1 million devices in MY23 as opposed to 1.3 million the previous year. The company forecasts the industry volume to be between 1.3 and 1.5 million units, with a sales target of above 1 million units.
Additional information from ATLH shows that the localization level for CD70 is 94.4%, CG125 is 92%, and Pridor is 84.3%.
The business has enough raw materials on hand to last for up to 4 months and hasn’t had any problems importing them.
As a result of import limitations, ATLH added, almost 80% of Chinese players had departed the market.
According to the business, it will take years for EV bikes to become widely utilised because they are expensive and there is a limited quantity of lithium available globally because the majority of it is used in EVs.
Currently, lead-acid batteries are used to make the unreliable e-bikes that are sold in the nation.
In terms of domestic demand, 2/3 of the demand, which consists of rural and remittances customers, is still present.
However, urban demand has been affected by inflation.