November 10, 2021 (MLN): Honda Atlas Cars (HCAR) on Wednesday increased prices of all its models from Rs130,000 to Rs485,000 citing rupee depreciation and increasing input costs, a company memo showed.
In a letter directed to all Honda 3S dealers, the company said “keeping in view the increase in forex, shipping cost and raw materials, it is unavoidable for Honda Atlas Cars Pakistan Ltd (HACPL) to maintain the current retail prices.”
The company said that it is compelled to pass on the part of this impact to the market while adding that “we have tried our maximum to facilitate our valuable customers in this price increase.”
HCAR increased prices of 1.2L City MT, CVT and 1.5L City CVT from Rs2.6m, Rs2.8m and Rs2.9m to Rs2.73m, Rs2.95m and Rs3.1m, respectively.
In addition, the company also hiked prices of 1.5L City Asp MT, 1.5L City Asp CVT and BR-V CVT S from Rs3.02m, Rs3.17m and Rs3.37m to Rs3.2m, Rs3.37m and Rs3.6m from January 2022 on wards.
Even though the aforementioned prices will come into effect from January next year, HCAR also increased prices of all models for the month of November and December in the range of Rs65,000 to Rs242,000.
HCAR’s sales for the April-June quarter clocked in at Rs21.76 billion, up 234% from Rs6.51bn during the same period last year on the back of strong demand and high prices.
The company sold 9,107 units in the July-Sept quarter compared to 7,826 units in the April-June quarter.
