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Honda Sets Ambitious Goal: Plans to Export Motorcycles Worth $25 Million in MY24

Honda Sets Ambitious Goal: Plans to Export Motorcycles Worth $25 Million in MY24

Honda Sets Ambitious Goal: Plans to Export Motorcycles Worth $25 Million in MY24

Honda Sets Ambitious Goal: Plans to Export Motorcycles Worth $25 Million in MY24

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  • ATLH targets $25 million in motorcycle exports to Iran and Iraq in MY24.
  • In MY23, ATLH sold 1.1 million units, slightly lower than the previous year.
  • ATLH aims to sell over 1 million units in MY24, expecting industry volume between 1.3 and 1.5 million units.
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Atlas Honda Limited (ATLH) plans to achieve $25 million in motorcycle exports in MY24, with Iran and Iraq identified as potential markets for Pakistani motorcycles. This information was revealed by the company during a corporate briefing aimed at updating investors on its financial performance in MY23.

According to ATLH, the company sold 1.1 million units in MY23, showing a slight decrease from the 1.3 million units sold in the previous year. In MY24, ATLH aims to sell over 1 million units and anticipates the industry volume to range between 1.3 and 1.5 million units.

During the briefing, ATLH also provided details regarding the localization levels of their motorcycle models, with CD70 at 94.4%, CG125 at 92%, and Pridor at 84.3%.

ATLH emphasized that they have not encountered any difficulties in importing raw materials and currently maintain a stock of up to 4 months’ worth of raw materials.

Furthermore, ATLH highlighted that around 80% of Chinese players have exited the industry due to import restrictions.

The company expressed the view that electric vehicles (EVs) will take several years to gain widespread popularity, citing the high cost of lithium-based e-bikes and the limited global supply of lithium, as a significant portion is already utilized in EVs.

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At present, e-bikes available in the market in the country are manufactured using lead-acid batteries, resulting in their lack of reliability.

Regarding domestic demand, approximately two-thirds of the demand, which consists of rural customers and customers receiving remittances, remains unaffected. However, urban demand has been impacted due to inflation.

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