Honda Atlas Cars Pakistan (HACPL) has raised prices through its entire product range, with the increase reaching as high as Rs400,000. The company cited “unavoidable” circumstances that “compel it to pass on some of the burdens to the market” (nearly 15pc).
It claimed in a letter to dealers on Friday that it was obligated to pass on some of the impacts of rising FOREX, shipping costs, and raw materials since it was “unavoidable” for the company to maintain existing retail prices. The company stated that it made every effort to make the price rise as convenient as possible for clients.
Daily Times has a copy of the letter distributed to dealers, revealing that the hike will be implemented in two stages.
Nevertheless, all orders placed from March 26, 2022, onward will see the highest price increase possible.
The price revision came as the rupee depreciated to a new record low against the US dollar on Friday, closing in on the 182 mark versus the greenback. Indus Motor Company, which manufactures Toyota-branded automobiles in Pakistan, increased prices across its entire product line earlier this week, citing the same reasons as the previous two companies.
The Honda City 1.2L MT’s price rose the most, from Rs2,729,000 to Rs3,129,000, or a whopping Rs400,000 in one year. The price of its CVT variant went up by Rs300,000, to Rs3,249,000. There were price increases of Rs300,000 for each of the three additional City models: 1.5L CVT, Asp MT, and CVT 1.5L Asp.
The new Civic, which was unveiled only a few weeks ago, has seen a price increase of up to Rs350,000, which is rather remarkable.
It currently costs Rs. 3,689,000 for the BR-V (step 1), whereas the new price (step 2) for this model will be a whopping Rs. 3,884,000 (a rise of Rs. 195,000). Finally, the new price of BR-V will be Rs. 4,079,000, an increase of Rs. 390,000 from the previous stage.
People who make new reservations for Honda City, Honda Civic, and Honda BR-V will have to pay the new prices. People who already have reservations but haven’t paid yet will only have to pay 50pc more. Meanwhile, the backorders that were placed until November 10, 2021, with a delivery date of June or April 2022, have been paid in full until March 24, 2022, and March 31, 2022, respectively.