Tag: Honda BR-V

  • Rupee devaluation, GST hike forces Honda to increase car prices up to Rs1 million

    Rupee devaluation, GST hike forces Honda to increase car prices up to Rs1 million

    Honda Atlas Cars Limited (HACL) has announced its fourth price hike in less than 90 days, citing the government’s implementation of a 25 per cent general sales tax (GST) on luxury items.

    This time, the automaker has raised car prices up to Rs1 million. According to a recent notification, HACL has attributed the most recent price hike to the devaluation of the Pakistani rupee against the US dollar, as well as the increase in sales tax from 18 per cent to 25 per cent.

    Below are the new ex-factory and provisional prices that are applicable from March 14, 2023:

    Model Old Price (Rs) New Price (Rs) Increase (Rs)
    Honda City M/T 1.2L 4,579,000 4,799,000 220,000
    Honda City CVT 1.2L 4,729,000 4,929,000 200,000
    Honda City CVT 1.5L 5,019,000 5,549,000 530,000
    Honda City Aspire M/T 1.5L 5,229,000 5,759,000 530,000
    Honda City Aspire CVT 1.5L 5,419,000 5,979,000 560,000
    Honda BR-V CVT S 5,949,000 6,529,000 580,000
    Honda HR-V VTi 7,199,000 7,899,000 700,000
    Honda HR-V VTi S 7,399,000 8,199,000 800,000
    Honda Civic 1.5L M-CVT 7,779,000 8,599,000 820,000
    Honda Civic 1.5L Oriel M-CVT 8,099,000 8,949,000 850,000
    Honda Civic RS 1.5L LL-CVT 9,199,000 10,199,000 1,000,000
    Latest Honda Car prices in Pakistan – effective from 14 March 2023
  • Honda City 1.2 manual now costs more than Rs4.3 million after latest price hike

    Honda City 1.2 manual now costs more than Rs4.3 million after latest price hike

    Honda Atlas Cars Limited (HACL) has once again raised its car prices for the second time in two weeks. The company attributed the increase to rising inflation and a depreciating local currency.

    Below are the new prices for all Honda cars:

    Car Old Price (Rs) New Price (Rs) Hike (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

    The automobile industry is facing challenges due to foreign exchange limitations and parts supply issues. The Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM) and the Pakistan Automotive Manufacturers Association (PAMA) have jointly sent a letter to the Governor of the State Bank of Pakistan (SBP), Jameel Ahmed, highlighting the dire situation.

    In the letter, the organizations state that the industry is facing the brink of collapse due to restrictions imposed by the SBP on imports and a lack of support from banks in the automotive sector. This has resulted in sporadic plant closures and lay-offs among assemblers and suppliers.

    The joint letter from PAAPAM and PAMA advised that failure to take corrective action would result in negative consequences such as widespread job loss, reduction in government income, the shutdown of car assembly plants, and capital loss. The letter emphasized that the negative effects of the letter of credit (LC) issue have contributed to the collapse of the automobile industry.

  • Honda Civic RS now costs Rs8.1 million after the latest price hike

    Honda Civic RS now costs Rs8.1 million after the latest price hike

    Honda Atlas Cars Limited (HACL) on Monday increased prices across its entire line-up, with the hike going as high as Rs550,000 for the popular Honda Civic RS. The automaker cited exchange rate volatility and an increase in production costs as the reasons behind the latest price revision.

    “Keeping in view the uncertain economic conditions, inflation in material costs, and volatility of forex, HACPL was compelled to pass part of this adverse impact through a price increase,” Honda said in a notice sent to dealerships.

    Here are the new prices:

    Variants Old Prices New Prices Difference
    City MT 1.2L Rs3,769,000 Rs4,069,000 Rs300,000
    City CVT 1.2L  Rs3,899,000 Rs4,199,000 Rs300,000
    City CVT 1.5L  Rs4,139,000 Rs4,449,000 Rs310,000
    City Asp MT 1.5L Rs4,299,000 Rs4,629,000 Rs330,000
    City Asp CVT 1.5L Rs4,479,000 Rs4,799,000 Rs320,000
    BR-V CVT S Rs4,939,000 Rs5,299,000 Rs360,000
    HR-V VTI Rs5,999,000 Rs6,399,000 Rs400,000
    HR-V-VTI S Rs6,199,000 Rs6,599,000 Rs400,000
    Civic 1.5L M CVT Rs6,349,000 Rs6,849,000 Rs500,000
    Civic 1.5L Oriel M CVT Rs6,599,000 Rs7,099,000 Rs500,000
    Civic RS 1.5LL CVT Rs7,549,000 Rs8,099,000 Rs550,000

    The new prices are applicable as of January 23, 2023.

    Honda City variants’ prices have been raised from Rs300,000 to Rs330,000. The base model of the City (Manual) 1.2L witnessed its price increase from Rs3.769 million to Rs4.069 million.

    The price of the Honda City Aspire Manual 1.5L rose from Rs4.139 million to Rs4.449 million.

    Honda Atlas raised the price of the Honda BR-V CVT S by Rs360,000 to Rs5.299 million. Additionally, the price of Honda HR-V variants rose by Rs400,000. HR-V VTI and HR-V VTI S models now cost Rs6.399 million and Rs6.599 million, respectively, after the latest price increase.

    Read more: Suzuki cars latest prices

    The company jacked up the price of popular Honda Civic variants by Rs500,000 to Rs550,000. The price of the Civic RS 1.5L LL CVT rose from Rs7.549 million to Rs8.099 million.

    Earlier, Toyota Indus Motor Company also increased prices across its entire lineup with a hike in the range of Rs280,000 to Rs1,210,000.

  • Honda reduces car prices to pass on the forex impact

    Honda reduces car prices to pass on the forex impact

    Honda Atlas Cars Limited (HACL) has reduced the prices of its entire lineup, like its rival Toyota.

    According to a notification from the automaker, the latest price reduction is an outcome of the Pakistani rupee’s strengthening versus the US dollar, and the company wants to pass on the forex impact to its “valued” customers.

    Here are the new prices of Honda cars in Pakistan, effective from August 17:

    Model  Old invoice New price Decrease
    City Manual 1.2L Rs4,049,000 Rs3,769,000 Rs280,000
    City CVT 1.2L Rs4,199,000 Rs3,899,000 Rs300,000
    City CVT 1.5L Rs4,439,000 Rs4,139,000 Rs300,000
    City Aspire Manual 1.5L Rs4,609,000 Rs4,299,000 Rs310,000
    City Aspire CVT 1.5L Rs4,799,000 Rs4,479,000 Rs320,000
    BR-V CVT S Rs5,299,000 Rs4,939,000 Rs360,000
    Civic 1.5L M CVT Rs6,799,000 Rs6,349,000 Rs450,000
    Civic 1.5L Oriel M CVT Rs7,099,000 Rs6,599,000 Rs500,000
    Civic RS 1.5L LL CVT Rs8,099,000 Rs7,549,000 Rs550,000
    Honda Cars Latest Price List – August 2022

    Despite the most recent drop, the ‘cheapest’ Honda car still costs more than Rs3.7 million, making it out of reach for low-income individuals.

  • Honda Pakistan records 40 per cent increase in earnings

    Honda Pakistan records 40 per cent increase in earnings

    Honda Atlas Cars Limited (HACL) concluded the financial year with a 40 per cent increase in earnings, giving investors reason to be optimistic. This is despite several challenges including an ongoing chip shortage, rising commodity prices on overseas markets, hefty freight rates, and the rupee’s depreciation.

    “The result is below our expectations, which is mainly due to higher-than-expected distribution costs and effective tax rate,” Ismail Iqbal Securities auto sector analyst Muqeet Naeem stated.

    The automaker benefited from the fact that demand for four-wheelers remained high despite the problems.

    Honda purchasers appear to be unconcerned with price changes, preferring to purchase their preferred vehicles whenever they want, regardless of how much more expensive they are now than they were only two years ago.

    Prices have continued to rise at a rapid pace. There may also be a sense that prices will continue to rise. However, in a market known for “own money” or high premiums, continued demand despite price increases should not be surprising.

    The earnings per unit sold is a great marker of how quickly prices have risen. Honda sold 57 per cent more automobiles in MY22 than the previous year, which ended in March 21.

    The introduction of a new Civic generation considerably attributed to Honda’s sales growth.

    Not only have imports become more expensive as the PKR has depreciated against the greenback, but inflationary pressures on inputs and rising fuel prices have also contributed to cost increases. Revenue and cost per unit sold have generally increased in lockstep.

    As a result, despite strong demand growth, margins have fallen to 5 per cent.

    Other income, which consists of customer advances, has significantly bolstered the company’s profitability. Other income boosted the bottom line by 47 per cent in MY22, compared to 33 per cent the previous year. This also suggests that demand will continue to rise in the coming months.

    However, as lending rates continue to skyrocket, the company may lose demand from purchasers who plan to finance their vehicles through a bank.