The world’s largest motorcycle manufacturer, Honda, has raised the cost of its bikes once more, this time by as much as R35,000.
The sudden rise is the result of the local currency’s rapid decline against the US dollar as the South Asian nation’s foreign exchange reserves hit an all-time low and it is on the approach of defaulting on its debt.
The bike manufacturer raised the price of bikes for the first time by up to Rs30,000 on January 31, 2023, and the public was astonished by a second increase over two weeks later. Beginning on February 15, 2023, the new prices will apply.
