Honda Atlas Cars Pakistan has increased its car prices for the third time in 2018 by up to Rs100,000. The reason is same as that of other auto companies that have raised prices, which is the devaluation of rupee against the dollar. Recently Toyota Indus Motors increased its car prices, Pak Suzuki jumped the vehicle prices for the third time and Al-Haj FAW raised the prices for the fourth time just recently.
Honda Prices of Civic’s 1.8 I-VTEC and 1.8L Oriel variants have been raised by Rs 100,000 so their new prices are Rs2.6 million and Rs 2.75 million, respectively. The prices of 1.3L MT, 1.3L AT, 1.5L MT, and 1.5L AT are increased by Rs 30,000 so their new prices are Rs 1729000, Rs 1869000, Rs 1789000, and Rs 1929000 respectively. Honda 1.5L Aspire MT and AT prices have been increased by Rs 50000 and their new prices are Rs1.94 million and Rs2.08 million, respectively.
The BR-V MT, CVT, and S CVT car prices have been raised by Rs 35,000 so their new prices are Rs 2134000, Rs 2284000, and Rs 2384000 respectively.
Farheen Irfan, an analyst at Elixir Securities said, “The price increase by Honda was expected as PSMC (Suzuki) and IMC (Toyota) have already increased their price for the third time to pass on the impact of the rupee devaluation.”
The general manager sales and marketing division Honda Amir Nazir announced the price hike in a notification to dealers. The reason given was that due to negative exchange rate impact and 1% additional import duty the prices of Honda cars have been increased. New prices were effective from July 2nd.
Those who have their delivery date by July 31st and have paid the balance payment by June 30th, will not be charged the increased price. New prices are only for cars invoiced after June 30th.