Tag: Honda HR-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.