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Honda Increases Car Prices Again Within 15 Days

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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