Honda Atlas Cars announced on Monday that it will be raising prices for its entire product line, with some prices increasing by as much as Rs 550,000. The company cited exchange rate volatility and rising costs of materials as the reasons for the price increase.
In a statement to dealers, the company said, "Due to the current uncertain economic conditions, inflation in material costs, and volatility of forex, Honda Atlas Cars was forced to pass some of this impact onto consumers through a price increase."
The new prices will take effect on January 23, 2023.
Honda Atlas Cars has raised the prices of its City models by a range of Rs 300,000-330,000. The base City MT 1.2L model saw its price increase from Rs 3.769 million to Rs 4.069 million.
The high-end City Aspire MT 1.5L model's price went up from Rs 4.139 million to Rs 4.449 million. The BR-V CVT S model's price was raised by Rs 360,000 to Rs 5.299 million. Additionally, the prices of HR-V models were increased by Rs 400,000.
The HR-V VTI and HR-V VTI S models now cost Rs 6.399 million and Rs 6.599 million respectively. The company also raised the prices of Civic variants by Rs 500,000-550,000. The Civic RS 1.5L LL CVT model's price went up from Rs 7.549 million to Rs 8.099 million.
On January 13, Indus Motor Company (IMC) raised prices for its entire product line, with increases ranging from Rs 280,000 to Rs 1,210,000. According to a notice sent to dealers, the reasons for the price increase are higher costs for utilities and overhead expenses.
In the notice, IMC stated that "due to economic uncertainties and inflation in raw material cost, the vendor cost of production has significantly increased." It also added that "the volatile situation of forex, increase in utilities and overheads has also impacted the cost of manufacturing for IMC.
Thus, this situation has made it extremely difficult for IMC to hold the current retail selling prices and therefore, we are compelled to pass on some impact to the market."
Honda City 2023 Car prices after increase in Pakistan
| Model | Previous Price (Rs) | Price Hike (Rs) | New Price (Rs) |
|---|---|---|---|
| Honda City M/T 1.2L | 3,769,000 | 300,000 | 4,069,000 |
| Honda City CVT 1.2L | 3,899,000 | 300,000 | 4,199,000 |
| Honda City CVT 1.5L | 4,139,000 | 310,000 | 4,449,000 |
| Honda City Aspire M/T 1.5L | 4,299,000 | 330,000 | 4,629,000 |
| Honda City Aspire CVT 1.5L | 4,479,000 | 320,000 | 4,799,000 |
Honda BRV-V CVTS Cars new price in Pakistan
| Model | Previous Price (Rs) | Price Hike (Rs) | New Price (Rs) |
|---|---|---|---|
| Honda BR-V CVT S | 4,939,000 | 360,000 | 5,299,000 |
Honda HRV-V VTI Cars new Price in Pakistan after hike
| Model | Previous Price (Rs) | Price Hike (Rs) | New Price (Rs) |
|---|---|---|---|
| Honda HR-V VTI | 5,999,000 | 400,000 | 6,399,000 |
| Honda HR-V VTI S | 6,199,000 | 400,000 | 6,599,000 |
Honda Civic 1.5L Cars New Prices after Hike
| Model | Previous Price (Rs) | Price Hike (Rs) | New Price (Rs) |
|---|---|---|---|
| Honda Civic 1.5L M-CVT | 6,349,000 | 500,000 | 6,849,000 |
| Honda Civic 1.5L Oriel M-CVT | 6,599,000 | 500,000 | 7,099,000 |
| Honda Civic RS 1.5L LL-CVT | 7,549,000 | 550,000 | 8,099,000 |
