The Honda car prices have been increased by upto Rs85,000. The Honda City 1.3L MT variant price has been raised by Rs65,000. So now the price of the variant is Rs1.92 million raised from Rs1.85 million. Furthermore, the cost of 1.3L AT variant has been raised to Rs2.06 million from Rs1.99 million
The 1.5L MT variant cost has been raised by Rs65,000 and it has now reached Rs1.98 million from Rs1.91 million. 1.5L AT model price has reached Rs2.12 million, increased by Rs65,000.
Also, the price of 1.5L Aspire MT has been increased to Rs2.13 million from Rs2.06 million, while the price of 1.5L Aspire AT has reached Rs2.27 million from Rs2.2 million.
The prices of Honda BR-V CVT variant has been raised to Rs2.43 million from Rs2.38 million while the price of BR-V S CVT has been increased to Rs2.57 million from Rs2.48 million. The price BR-V MT variant has not been changed, it remains at Rs2.23 million.
According to the notice, the City and BR-V backorder cars that are due by April 2019 will be delivered on the previously decided price. However the remaining backorder with full or partial payment will be paid on new prices, as notified by the company.
General Manager Sales and Marketing Division Amir Nazir said that the price of Honda Civic is not announced yet, the booking will continue at a minimum amount of Rs1.2 million.
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The new prices of 1.8L VTI CVT and 1.8L VT SR CVT variants will be announced later.
JS research analyst Ahmed Lakhani said, “The auto companies’ profit margins contracted from 5-6% in December 2018 to around 3%. Honda’s margin situation is also the same.”