Honda Announces Another Huge Price Hike for Locally-Assembled Cars
Honda Atlas Cars (HACL) has increased the prices of its locally assembled cars for the second time in 2022. The company has cited rising raw material costs and depreciating local currency as the reason for the hike.
Like other automakers, HACL will implement the new prices in the following sequence:
- Those who booked cars before November 11, 2021, will pay the current price.
- Those who have made full payment by March 24, 2022, will also pay the current price.
- Those expecting deliveries in April 2022, will also pay the current price.
- Those expecting to make full payment by April 30, 2022, will also pay a 50 percent price hike.
- While the people who book new Honda cars after the price hike will pay 100 percent of the increase in price.
Effective from March 26, 2022, the new prices are as follows:
|Models||Current Prices (Rs.)||Revised Price for Old Bookings (Rs.)||Revised Price for New Bookings (Rs.)||Price Increase (Rs.)|
|City 1.2L MT||2,729,000||2,929,000||3,129,000||400,000|
|City 1.2L CVT||2,949,000||3,099,000||3,249,000||300,000|
|City 1.5L CVT||3,146,000||3,296,000||3,446,000||300,000|
|1.5 L Aspire MT||3,279,000||3,429,000||3,579,000||300,000|
|1.5 L Aspire CVT||3,454,000||3,601,500||3,749,000||295,000|
|Civic 1.5T M-CVT||5,099,000||5,249,000||5,399,000||300,000|
|Civic Oriel 1.5T M-CVT||5,399,000||5,524,000||5,649,000||250,000|
|Civic 1.5T RS LL-CVT||6,149,000||6,324,000||6,499,000||350,000|
|BR-V 1.5 iVTEC S||3,689,000||3,884,000||4,079,000||390,000|
Experts told the media that all automakers will announce price hikes in the coming days. Chairman Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM), Mashood Khan, stated that:
When one Original Equipment Manufacturer (OEM) increases car prices, others follow too. It is because all of the companies are facing similar cost pressures such as rupee depreciation against dollar, increase in the prices of imported raw materials such as steel.
Chairman of All Pakistan Motor Dealers Association (APMDA), HM Shehzad, added that the car demand will continue to rise while the delivery time will lengthen further despite the price surge.