Honda raises car prices due to GST hike, currency devaluation

March 14, 2023 (MLN): Following the government's imposition of a hefty 25% GST on luxury items, Honda Atlas Cars (Pakistan) Limited (PSX: HCAR) has hiked up its prices yet again, marking the fourth time in just 2.5 months.

According to the notification issued today, the company attributed the surge in prices to the plummeting value of the PKR against the USD and the recent spike in sales tax from 18% to 25%.

This latest news from the auto world has left Honda car buyers in Pakistan in for a bumpy ride.

Accordingly, the prices of Honda City models have increased once again. The M/T 1.2L model's price has gone up by Rs220,000, making its new price Rs4,799,000.

The CVT 1.2L model's price has also increased by Rs200,000, resulting in a new price of Rs4,929,000. The 1.5L CVT model's price has seen a significant increase of Rs530,000, with a new price of Rs5,549,000.

Similarly, the Aspire M/T 1.5L model's price has gone up by Rs530,000, bringing its new price to Rs5,759,000.

The Aspire CVT 1.5L model's price has increased by Rs560,000, making its new price Rs5,979,000.

In addition, the Honda BR-V CVT S was previously sold for Rs5,949,000, however, it has now undergone a price hike of Rs580,000 and is available for purchase at a new price of Rs6,529,000.

The Honda HR-V VTi, which used to be priced at Rs7,199,000, has experienced a substantial increase of Rs7,00,000, bringing its new price to Rs7,899,000. Similarly, the Honda HR-V VTi S has undergone a price hike of Rs800,000, and it now costs Rs8,199,000 instead of its previous price of Rs7,399,000.

The variants of Honda Civic variants have also been affected by the hike. The Civic 1.5L M-CVT now costs Rs8,599,000, marking an increase of Rs820,000 from its previous price of Rs7,779,000.

The Honda Civic 1.5L Oriel M-CVT has seen a price increase of Rs850,000, bringing its new price to Rs8,949,000 from its previous price of Rs8,099,000.

Lastly, the Honda Civic RS 1.5L LL-CVT now costs Rs10,199,000 instead of Rs9,199,000, having undergone a price hike of Rs1,000,000.

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