HONDA hikes car prices by up to Rs550,000

January 24, 2023 (MLN): The Honda Atlas Cars Pakistan Limited (HACPL) has increased the Honda CKD vehicles prices by up to Rs550,000 due to economic uncertainties and inflation in raw material costs, and forex volatility, a notification issued by the company showed.

Therefore, HACPL is passing part of this adverse impact through the price increase.

The company increased the prices of City MT 1.2L from Rs7.55mn to Rs8.09mn, a jump of Rs300,000.

Similarly, the price of the City CVT 1.2L variant jumped by Rs 300,000 and it is now available at Rs4.07mn.

The next one is City CVT 1.5L, which used to cost Rs4.14mn and after the increase of Rs310,000, its new price is Rs4.45mn.

Then comes, the City Asp MT 1.5L, and after the latest increase of Rs330,000, the new rate of the car is Rs4.629mn against the last rate of Rs4.299mn.

City Asp CVT 1.5L, which saw a hike of Rs320,000 taking the price to Rs4.799, compared to the previous Rs4.479mn.

As the sixth variant, we have BR-V CVT S, which saw a hike of Rs360,000 taking the price to Rs5.299mn as compared to the previous Rs4.939mn.

HR-V VTI its old price was Rs5.999mn, after a jump of Rs400,000, the new rate is Rs6.399mn, and HR-V VTI S prices increased by Rs400,000 to Rs6.599mn.

Prices of Civic 1.5L M CVT have risen to Rs6.849mn after a jump of Rs500,000, and the price of Civic 1.5L Oriel M CVT surged to Rs7.099mn against the previous price of Rs6.599mn.

Civic RS 1.5L LL CVT is now priced at Rs8.099mn following a hike of Rs550,000. Earlier, the vehicle was available at Rs7.549mn.

The new RSP prices will be applicable on all new orders booked from January 23, 2023, the notification read.

Moreover, all orders created till January 21, 2023, with complete payments (instrument date till January 21, 2023) will be invoiced on the previous RSP.

HACPL is a joint venture between Honda Motor Company Limited Japan, and the Atlas Group of Companies, Pakistan.

To note, sales of passenger cars decreased by 10.78% MoM to 13,768 units in December as compared to 15,432 units in the last month, according to recent data from PAMA.

On a year-on-year basis, passenger car sales went down by 43.74% compared to 24,471 units sold in the same period last year.

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