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After 4th Huge Price Hike in 2023, Only Ultra-Rich Individuals Can Afford Honda Cars

In continuation with the customary exercise after every tax increase by the government and fluctuation in PKR’s value, Honda Atlas Cars Limited (HACL) has once again dropped a price hike of gigantic proportions on the consumers.

According to the official notification issued by HACL, keeping in view the further increase in the exchange rate of PKR and USD and an increase in the rate of Sales Tax from 25% on 1,400cc and above CKD vehicles, HACL has to increase current prices.

Effective 14 March 2023, here are the latest prices.

Models Old Price (Rs.) New Price (Rs.) Increase (Rs.)
City 1.2 M/T 4,579,000 4,799,000 220,000
City 1.2 CVT 4,729,000 4,929,000 200,000
City 1.5 CVT 5,019,000 5,549,000 530,000
City Aspire 1.5 M/T 5,229,000 5,759,000 530,000
City Aspire 1.5 CVT 5,419,000 5,979,000 560,000
Civic 1.5T M-CVT 7,779,000 8,599,000 820,000
Civic Oriel 1.5T M-CVT 8,099,000 8,949,000 850,000
Civic RS 1.5T LL-CVT 9,199,000 10,199,000 1,000,000
HR-V VTi 1.5 7,199,000 7,899,000 700,000
HR-V VTi S 1.5 7,399,000 8,199,000 800,000
BR-V S 1.5 5,949,000 6,529,000 580,000

Decreasing Honda Sales

The downward trend in the car industry persists, as sales have fallen again in the past month due to reduced production and demand.

According to the latest statistics released by the Pakistan Automotive Manufacturers Association (PAMA), the car manufacturers who are members of the association sold a total of 5,762 vehicles in February 2023. This represents a MoM decline of 47% and a YoY decline of 73%.

With regards to HACL, the company sold just 1,636 cars in February, indicating a MoM decline of 39%.

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