Atlas Honda Limited (ATLH) plans to sell $25 million worth of motorbikes in MY24, with Iran and Iraq being two possible export markets for Pakistani motorcycles, the business stated during a corporate briefing session to update investors on its financial performance in MY23.
Read more : Pakistan’s textile exports fell 14% in the first ten months of FY23.
During the meeting, ATLH said that it sold 1.1 million devices in MY23, down from 1.3 million the previous year. The company intends to sell over one million devices and anticipates an industry volume of 1.3 to 1.5 million units.
ATLH also disclosed that the localization level for CD70 is 94.4%, 92% for CG125, and 84.3% for Pridor.
The company has not encountered any difficulty in importing raw materials and has up to four months of raw material on hand.
ATLH further stated that due to import limitations, nearly 80% of Chinese players have departed the business.
According to the business, EV bikes will take years to acquire widespread since lithium-based e-bikes are not only expensive, but the worldwide supply of lithium is restricted because the majority of it is used in EVs.
Currently, lead-acid batteries are used in e-bikes sold in the country, making them unreliable.
In terms of domestic demand, rural clients and remittance customers account for two-thirds of the total. However, inflation has had an impact on urban demand.
