After Toyota Indus Motor Company (IMC), Honda Atlas Cars Limited (HACL) has also increased their car prices.
The as per the official notice, the company will increase the prices of its vehicles in two phases. The enactment of the first phase of price hikes is due on November 11, 2021, while the 2nd phase is due on January 22, 2022.
The new prices of all locally assembled Honda vehicles are as follows:
|Variants||Old Price (Rs.)||Price Revision November 11, 2021 (Rs.)||Increase (Rs.)||Price Revision January 22, 2022 (Rs.)||Increase (Rs.)|
|City 1.2 Manual||2,599,000||2,664,000||65,000||2,729,000||130,000|
|City 1.2 CVT||2,799,000||2,874,000||75,000||2,949,000||150,000|
|City 1.5 CVT||2,899,000||2,984,000||85,000||3,069,000||170,000|
|City Aspire 1.5 Manual||3,019,000||3,109,000||90,000||3,199,000||180,000|
|City Aspire 1.5 CVT||3,174,000||3,271,000||97,000||3,369,000||195,000|
|Civic 1.8 VTI CVT||3,614,000||3,796,000||182,000||3,979,000||365,000|
|Civic 1.8 VTI SR CVT||3,864,000||4,061,000||197,000||4,259,000||395,000|
|Civic 1.5 Turbo RS CVT||4,564,000||4,806,000||242,000||5,049,000||480,000|
|BR-V 1.5 S CVT||3,374,000||3,486,000||112,000||3,599,000||225,000|
Note: All prices are exclusive of freight charges.
Like all automakers, HACL has cited the increase in the foreign exchange rate, raw material prices, and shipment costs to be the culprits behind the increase. The company has also announced arrangements in its official statement to not charge new prices from those who have booked the vehicles prior to November 2021.
The terms and conditions for the price hike are as follows:
- January 22, 2022 price shall be applicable on all new backorders ahead of November 10, 2021, and all pending orders with an Estimated Delivery Date (EDD) of January 2022 and onwards.
- Customers that have an EDD of November 2021 and whose payments have been cleared before November 11, 2021, will receive vehicles on old prices.
- Customers that have an EDD of November 2021 but whose payments are yet to be made in full by November 26, 2021, will receive vehicles at first-phase prices (prices from November 11, 2021, till January 22, 2022).
- Customers that have an EDD of December 2021 but whose payments are yet to be made in full by November 26, 2021, will receive vehicles at first phase prices.
- Un-cleared backorders as of November 26 with an EDD of December 2021 will receive deliveries at the 2nd phase prices. (prices as of January 22, 2022)
The operational challenges have become a matter of concern for the automakers amidst the ongoing depreciation of the currency and supply-chain issues, which is why they are now increasing the prices without any intervention from the government. This new development raises a lot of questions about the fate of the Pakistani automotive industry.