The new Federal Budget for 2024-25 has proposed several tax hikes that could significantly impact vehicle prices across Pakistan. Among the vehicles affected are popular motorbikes like the Honda CD 70, Honda CG 125, and Honda Pridor. This budget aims to increase import duties on essential raw materials such as steel and spare parts, directly influencing the manufacturing costs for cars and motorbikes. These measures are part of the government’s strategy to boost tax revenue and expand the tax base.
In addition to raw materials, the budget plans to revoke import tax exemptions on luxury vehicles, especially those costing over $50,000. This move will subject high-end vehicles to steeper taxes and duties, further impacting the automotive market.
The government has set an ambitious tax collection target of Rs12,970 billion for the upcoming fiscal year. To achieve this, they will increase income and sales taxes, alongside the new import duties on luxury goods and a broader tax net.
For Honda motorcycle enthusiasts, these changes could mean higher prices shortly. The cost of the Honda CD 70, currently priced at Rs 157,900, may rise following the approval of the budget. Despite these challenges, the Honda CD 70 remains a best-seller, known for its reliability and affordability. However, the escalating prices could make it harder for new buyers to afford this and other models.
CD 70 Price in Pakistan 2024
As of July 2024, the Honda CD 70 price in Pakistan is Rs 157,900. With the budget’s proposals, this figure might increase, impacting buyers who are looking to purchase the Honda CD 70 and similar motorbikes. The evolving economic policies and their effects on vehicle pricing will be closely watched by consumers and industry stakeholders alike.
