Honda Motorcycles are the most sold and most popular motorcycles in Pakistan. Atlas Honda (Pakistani Joint Venture of Atlas Autos and Honda Motor Co) enjoys the title of Pakistan’s first and most-selling motorcycle brand. Atlas Honda is a household name and they have cemented their reputation in the mind of every motorcyclist. Honda Motorcycles are now available at easy monthly installments. Here is what we know so far.
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Since last year, the automobile prices have started to climb. The same automobile which was priced at 70 thousand a year before is now costing 1 lac 10 thousand. The reason for this steep climb is the increasing dollar rate, a government ban on imports of raw materials, and political instability. The prices have become so high that it is almost impossible for an end consumer to purchase a basic commuter motorcycle. Because of this, the sales targets of companies are also declining and they are facing hard times. Many local manufacturers have shut down their plants.
To remedy this issue, the manufacturers are offering installment plans. The installment plans help an end consumer in owning a vehicle with ease of payment. Honda Motorcycles are now available in installments through different banking channels and e-commerce platforms. The famous e-commerce platform of Daraz is offering Honda Motorcycles in easy monthly installments.
Many banks are offering Honda Motorcycles on EMI with and without markup. Usually, the markup is 0% in 12 months schemes and companies charge a high rate of markup on longer schemes. The EMI scheme is also available on the online banking app Alfa. Bank Alfalah users can now book their Honda Motorcycles and pay monthly installments through the banking app.
EMI or installment schemes are a temporary tool to make things affordable. In the longer run, we need to move towards locally manufactured products. That is the only way to strengthen the local industry.