In yet another grim revelation, Honda Atlas Cars Limited (HACL) has increased the prices of its cars for the second time in two weeks. The company has cited mounting inflation and local currency depreciation as the reasons for the hike.
Effective immediately, the new prices are as follows:
| Models | Old Price (Rs.) | New Price (Rs.) | Increase (Rs.) |
| City 1.2 M/T | 4,069,000 | 4,329,000 | 260,000 |
| City 1.2 CVT | 4,199,000 | 4,469,000 | 270,000 |
| City 1.5 CVT | 4,449,000 | 4,739,000 | 290,000 |
| City Aspire 1.5 M/T | 4,629,000 | 4,939,000 | 310,000 |
| City Aspire 1.5 CVT | 4,799,000 | 5,119,000 | 320,000 |
| Civic 1.5T M-CVT | 6,849,000 | 7,299,000 | 450,000 |
| Civic Oriel 1.5T M-CVT | 7,099,000 | 7,599,000 | 500,000 |
| Civic RS 1.5T LL-CVT | 8,099,000 | 8,649,000 | 550,000 |
| HR-V VTi 1.5 | 6,399,000 | 6,799,000 | 400,000 |
| HR-V VTi S 1.5 | 6,599,000 | 6,999,000 | 400,000 |
| BR-V S 1.5 | 5,299,000 | 5,649,000 | 350,000 |
Auto Industry in Peril
Foreign exchange constraints and component supply problems are stifling the automobile sector.
Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM) and Pakistan Automotive Manufacturers Association (PAMA) issued a joint letter to State Bank of Pakistan (SBP) Governor Jameel Ahmed on Thursday.
According to the letter, the industry is on the verge of extinction due to SBP import limitations and banks’ lack of collaboration in the car sector. As a result, plants face sporadic closures, while assemblers and suppliers lay off employees.
The letter cautioned that if corrective action is not taken, this situation will result in widespread unemployment, a decline in government revenue, the closing of automobile assembly plants, and loss of capital. It noted that direct and indirect impacts on the issue of the letter of credit (LC) triggered the industrial collapse.
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Car imports (up to 7 year old cars) must be opened to counter this auto mafia which has made cars unaffordable for masses.
Further, in such scenario, excise dept must maintain record of all imported cars entering Pakistan, their certificates, their grading and the declared import costs and make all this data publicly available on internet to prevent price gouging and fraud by auto importers.