Bumper wheat crop brings increase in bike sales

May 31, 2023

Mansoor Sadiq

A bumper wheat crop of 27.5 million tonnes this year and Rs4,000 per 40kg support price announced by the government has led to an increase in motorcycle sales, reports WealthPK. The two-wheelers saw a massive drop in sales in 10MFY2023. Following the boost in wheat yield, the rural areas have seen increased bike sales compared with the urban areas. Pakistan’s agrarian economy has an enormous impact on the lives and livelihoods of the majority of the people, as more than 60% of the population is associated with agriculture in different forms.

Talking to WealthPK, Ziaullah Chaudhry, Marketing Manager at the United Motorcycles, said the share of sales was 55% in the rural areas and 45% in the urban areas. With the bumper crops of wheat and cotton, bike sales also grow substantially, he added. He also pointed out that the sales of different brands had witnessed an increase in Punjab and other provinces, adding that the growers were quite satisfied with the raised support price. “Following the current wheat season, the two-wheeler industry is improving after a 10-month slowdown. We have high hopes that the coming months will generate more revenue for the motorcycle industry and relevant industries,” he said.

Ziaullah said motorcycle sales will boost in the southern region of the country, specifically South Punjab, in September and October as there were bright prospects of an increase in the price of cotton. According to the Pakistan Bureau of Statistics (PBS), the overall production of two-wheelers plunged by 49% to 1.012m units in 9MFY23 compared with the last fiscal year. Bike production declined to 94,922 units in March 2023 compared with 185,174 units in March 2022. Ziaullah said import restrictions and the devaluation of the rupee against the dollar had caused an increase in the prices of all brands of motorcycles. There are also reports that the majority of people earning handsome money have started using motorcycles to cut their fuel bills.

Credit: Independent News Pakistan-WealthPk