Tag: Latest

  • Honda to discontinue Insight next year, confirms production of Civic and CR-V hybrid

    Honda to discontinue Insight next year, confirms production of Civic and CR-V hybrid

    The Honda Insight will be phased out of production in 2023 as the company intends to concentrate on key hybrid versions, including the upcoming CR-V and Accord hybrids. Honda will also offer a new Civic Hybrid to replace the Insight under the new plan.

    Honda Insight will be phased out in June, but the Japanese automaker has not announced when the Civic substitute will arrive, only that it will appear at some point in the future. Honda’s other hybrids, on the other hand, will not take long to arrive. The manufacturer will release the CR-V Hybrid later this year, followed by the Accord Hybrid. According to Honda, hybrids will account for 50 per cent of each model’s sales mix.

    The auto giant debuted the Civic in Europe last month, bringing the 11th-generation model to the continent. It’s unknown how comparable the Civic Hybrid in the United States will be to the global model, but it could give a sense of what to anticipate. The Civic e:HEV produces 181 horsepower (135 kilowatts) and 232 pound-feet (315 Newton-meters) of torque thanks to a 2.0-liter Atkinson-cycle engine and two electric motors. It will be available in Europe this fall.

    After a five-year absence, Honda reintroduced the current-generation Insight for 2019. It came with a 1.5-liter engine and two electric motors that produced 151 horsepower (112 kW) and torque of 191 lb-ft (258 Nm). It was built on the previous-generation Civic, but it was placed slightly higher in Honda’s lineup than the famous passenger vehicle. Since 2018, Honda has sold over 70,000 third-generation Insight hybrids.

    Read more: Hyundai Pakistan launches another variant of obsolete Elantra

    Honda Insight has been there for 23 years, so it may not be gone forever from Honda’s range. The new model will most likely debut with the CR-V Hybrid later this year.

    The prevailing Honda Accord was debuted for the 2018 model year, and it is expected to receive a mid-cycle refresh that would update the complete portfolio, including the hybrid model.

  • Here’s a look at the upcoming Honda Vezel 2023

    Here’s a look at the upcoming Honda Vezel 2023

    Honda’s mini-SUV, the HR-V is finally approaching its second generation. The upcoming model will have some significant upgrades from styling to engine performance.

    It will be bulkier, futuristic, and more powerful than the previous model, with better looks than the smaller, hybrid-only European variant introduced in 2021.

    VEZEL and HR-V confusion

    For those who may not know, the original name for ‘Honda Vezel’ is ‘Honda HR-V’. This hybrid vehicle has become quite famous in Pakistan for its good looks and impressive fuel consumption despite being an expensive completely built-up (CBU) unit. It is mostly witnessed with a ‘Vezel’ badging instead of ‘HR-V’ here.

    The Japanese automaker said that the new subcompact SUV will be based on the same platform as the international Honda Civic variants. It has a longer wheelbase than before, and the rear suspension is now independent.

    Engine and Performance

    One important thing Honda revealed about the powertrain is that it will be a more responsive engine as compared to the prior one, which might be the Civic’s 180-hp turbocharged 1.5-liter inline-four, replacing the existing HR-V’s 141-horsepower 1.8-liter inline-four.

    The HR-V’s engine for the base model could be the naturally aspirated 158-hp 2.0-liter inline-four from the Civic’s lower trim levels. Front-wheel drive will almost certainly be standard, with all-wheel drive as an option, and a CVT automatic transmission will almost certainly be the only transmission option. A hybrid HR-V is also expected to enter the lineup, though it may arrive later than the fuel-only model.

    Read more: Car sales up by 53.7 per cent in 2022, despite repeated price hikes

    Honda has not officially revealed any photographs or details of the HR-V’s interior, however, it will be exciting to see how the new platform will affect its packaging. As the fuel tank was positioned behind the front seats, the previous HR-V, like the Fit, had a surprisingly low cargo floor.

    The LX, Sport, EX, and EX-L variants from the current model are anticipated to continue over. Honda also published a video showcasing the new HR-V in a variety of colours, including red, silver, black, and white. Unfortunately, there is no official statement released by the company regarding its price and availability in other regions.

  • Car sales up by 53.7 per cent in 2022, despite repeated price hikes

    Car sales up by 53.7 per cent in 2022, despite repeated price hikes

    The latest data provided by the Pakistan Automotive Manufacturing Association (PAMA) shows that overall car sales climbed by 53.78 per cent during the first nine months of the current fiscal year 2021-22 (July-March) compared to the same period in the past financial year.

    Keeping in view the recent figures, 172,612 vehicles were delivered in the time period under consideration, compared to 112,244 cars in the previous year. In March 2022, the country’s car sales climbed by 33.28 per cent on a year-over-year (YoY) basis when compared to the same month in 2021.

    In March 2022, car sales soared to 22,799 units, up from 17,105 units in the same month the previous year. considering the breakdown of the numbers, around 26,830 combined units of Honda Civic and City were sold in the fiscal year 2021-22, compared to 18,816 units in 2021, indicating a 42.59 per cent increase.

    The sale of Toyota Corolla and Yaris sedans increased by 24.93 per cent in the same time, rising to 43,695 units from 34,975 units the previous year. Suzuki Swift sales, on the other hand, fell by 73.78 per cent, from 1,896 units in July-March 2020-21 to 497 units. The drop witnessed in sales of Suzuki Swift was due to the production cut of the older Swift, which was scheduled to be replaced by the fourth generation in February of this year.

    Read more: Toyota Pakistan records highest monthly sales, selling 7,132 vehicles in March 2022

    With 53,241 units sold so far in the fiscal year 2022, Pakistan’s smallest engine size vehicle, the 660cc Alto, is now the most popular. It is worth noting that the mini hatchback is also the country’s ‘cheapest’ four wheeler from the big three.

  • Fruit and Vegetable prices getting out of control in Quetta

    Fruit and Vegetable prices getting out of control in Quetta

    During the holy month of Ramzan, the price of vegetables and fruits in Quetta rocketed instead of decreasing. Tomatoes, which were previously selling for Rs120 per kilogramme in the vegetable market are now being sold at Rs160.

    Some other reports even suggest that a few shopkeepers were selling tomatoes for up to Rs190, minting money directly in front of the district administration’s eyes.

    Ladyfinger which was sold at Rs240, is now available for Rs280, potatoes, and onions after getting a hike of Rs10 are being sold at Rs50 and Rs60, respectively. Ginger, lemon, and garlic are now priced between Rs300 to Rs320.

    The government of Balochistan has not set up any Ramzan or ‘Sasta bazaar’ this year to facilitate citizens during the holy month of fasting. Formerly, district governments held Ramazan bazaars on the orders of provincial governments to assist the people.

    Previously, the Quetta administration had issued shops with a detailed list of commodities and their pricing. The shop owners, on the other hand, are not obeying the administration’s directives and selling items at their desired rate. These artificial rates have multiplied the problems of the common man.

  • State Bank of Pakistan hikes interest rate to 12.25% in an emergency meeting

    State Bank of Pakistan hikes interest rate to 12.25% in an emergency meeting

    Following an emergency meeting, the State Bank of Pakistan (SBP) raised interest rates by 250 basis points, as mounting political uncertainty and rising worldwide oil prices threaten to drive the country into a full-fledged economic catastrophe.

    The key rate is now 12.25 per cent, as per the latest statement released by the central bank on Thursday. According to the report, this makes the real rate “mildly positive” and will assist maintain external and price stability.

    The judgment came a few hours before the Supreme Court was due to rule on the constitutionality of Prime Minister Imran Khan’s disputed move to dissolve parliament and hold new elections. Pakistan may find it difficult to persuade the International Monetary Fund (IMF) to grant a much-needed loan tranche due to the political limbo.

    At the recent briefing, SBP governor, Reza Baqir, said, “We thought it’s important to take decisive action”.  He added that the body does not intend to do anything else.

    The central bank claimed that intensified domestic political turmoil contributed to the rupee’s 5 per cent loss and caused a jump in local bond rates, as well as Pakistan’s Eurobond yields and Credit Default Swap (CDS) spreads. Oil prices are likely to remain elevated, and the Federal Reserve of the United States is expected to compress sooner than expected, according to the report.

    The PKR broke all records on Thursday, selling at more than Rs189 per dollar in intraday trading in the interbank market, continuing a slump that has witnessed its decline of more than 10 per cent since March 4.

    Read more: Pakistan to import 32.7 million barrels of oil to cover petroleum needs

    Pakistan’s political instability, in addition to money from the IMF, is causing delays in a planned $1 billion green bond offering. A refinancing from China is also expected; the repayment in recent weeks caused Pakistan’s foreign-exchange reserves to plummet to their lowest level since records began in 2010.

    In a meeting last month, SBP cautioned that it might convene earlier than planned to avoid a crisis. It revised its average inflation prediction for the fiscal year ending in June from 9 per cent to little more than 11 per cent.

  • Ahsan Khan’s 4-year-old “British-Asian” meme trends on Twitter once again

    Ahsan Khan’s 4-year-old clip has once again come to life, as the #BritishAsian hashtag started to appear on Twitter’s trending list. In the video which was recorded in 2018, the actor flaunted a British accent and presented himself as a “British-Asian actor” who lives “here and there”.

    Khan was in London for the International Pakistan Prestige Awards, where he received the ‘Star Of The Year’ award and spoke at multiple media interviews.

    He voiced several excellent observations, and many people appreciated what he said about Pakistan’s growing drama industry.

    The BBC also covered the ceremony, questioning PEMRA’s ruling (at that time) regarding our productions being “too bold”. Khan stressed the importance of using our shows to address Pakistani moral codes and cultural challenges.

    He highlighted how there should be a clear distinction between exaggeration and depicting reality.

    Besides the appreciation the actor received, the netizens could not resist noting something unusual about his accent during these interviews. The #BritishPakistani posts comprising Ahsan Khan’s quotes have once again flooded social media.

    Trolling has become more common than ever before on the social media platforms like Instagram, Twitter, and others. Celebrities are often the victim of this troll brigade. Every gesture, every position, and every picture published by celebrities is critiqued, from their attire to their accent.

    Ahsan Khan is best known for his roles in Udaari, Aangan, and Dastaan. For his act in Chupan Chupai, he was also nominated for Lux Style Awards for the ‘Best Film Actor’ in 2018. He currently hosts ‘Time Out with Ahsan Khan’, a talk show that was previously fined Rs50,000 by PEMRA for using animals as props.

  • PKR closed at 184.09 against USD, the lowest level in history

    PKR closed at 184.09 against USD, the lowest level in history

    A substantial decline in foreign exchange reserves, persistent political instability, and hefty petroleum costs dragged Pakistan’s currency (PKR) to new lows on Friday, with the rupee closing over the 184 level for the first time against the US dollar following a 0.33 per cent drop in the interbank market. 

    After a day-on-day devaluation of 61 paisas, the PKR closed at 184.09, its lowest level recorded, according to the State Bank of Pakistan (SBP).

    Since its most recent peak in May of last year, the PKR has lost over 17 per cent, while the local currency has devalued by over 14 per cent in the fiscal year to date (FYTD).

    The last time the PKR rose versus the US dollar (during its most recent weakening run) was on March 11. It has dropped in 13 sessions since that while staying stable in the remaining.

    Moreover, the State Bank of Pakistan’s (SBP) reserves also fell by $2.915 billion, to $12.05 billion, according to figures issued by the central bank on Thursday.