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Honda HR-V’s Launch Delayed Due to Economic Troubles: Source

Although Honda Atlas Cars Limited (HACL) is teasing the launch of 2022 HR-V, the ongoing economic turmoil may result in a delay, a reliable source told ProPakistani.

The company began teasing HR-V at the 2022 Pakistan Auto Show (PAS). However, since then, the following events have occurred:

  • US Dollar (USD) rate has reached an all-time high twice within two months.
  • State Bank of Pakistan (SBP) has sanctioned auto-sector imports, causing carmakers to observe production cuts.
  • Government has announced tax rate hikes on various car segments.
  • Car prices have shot up by up to 20 percent.
  • Car sales have plummeted massively.

These factors will prompt all automakers to hold off on new car launches. The source added that auto-sector activity will remain muted until the ongoing chaos continues, which may last up until Q2, 2023.

Details

HR-V will compete with Kia Sportage, Hyundai Tucson, MG HS, Haval Jolion, and other similar SUVs. The Pakistani spec HR-V will likely have these two powertrains:

  • A naturally aspirated (NA) 1.5-liter 4-cylinder petrol engine that makes 119 horsepower (hp) and 145 Newton-meters (Nm) of torque.
  • A turbocharged 1.5-liter 4-cylinder petrol engine that makes 179 hp and 240 Nm of torque.

Both engines send power to the front wheels only, via a CVT automatic transmission.

The price of HR-V’s test unit in June was Rs. 6.05 million. However, upon launch after massive local currency depreciation, the price is likely to be around Rs. 7.5 million. Time will reveal where Honda’s HR-V placement in the SUV market.



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