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Honda Civic Prices Dangerously Close to “Crore Pati” Category After Third Price Hike

Honda Civic Prices Dangerously Close

Honda Atlas Cars Limited (HACL) has announced a third price hike in a month for its cars, citing rising inflation and local currency depreciation. The car manufacturer blames the situation for the drastic increase in prices of up to Rs. 1.65 million since January 24, 2023.

Effective on February 18, the new prices are as follows:

Models Old Price (Rs.) New Price (Rs.) Increase (Rs.)
City 1.2 M/T 4,329,000 4,579,000 250,000
City 1.2 CVT 4,469,000 4,729,000 260,000
City 1.5 CVT 4,739,000 5,019,000 280,000
City Aspire 1.5 M/T 4,939,000 5,229,000 290,000
City Aspire 1.5 CVT 5,119,000 5,419,000 300,000
Civic 1.5T M-CVT 7,299,000 7,779,000 480,000
Civic Oriel 1.5T M-CVT 7,599,000 8,099,000 500,000
Civic RS 1.5T LL-CVT 8,649,000 9,199,000 550,000
HR-V VTi 1.5 6,799,000 7,199,000 400,000
HR-V VTi S 1.5 6,999,000 7,399,000 400,000
BR-V S 1.5 5,649,000 5,949,000 300,000

The new prices will take effect on February 18, and the car industry in Pakistan continues to be stifled by foreign exchange restrictions and component 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 State Bank of Pakistan Governor Jameel Ahmed earlier this month warning that the industry is on the verge of extinction. They blame SBP import restrictions and a lack of collaboration between banks and the automobile industry, causing plant closures and laying off workers.

The letter emphasized that without corrective action, the industry’s situation could lead to a drop in government revenue, widespread unemployment, closure of automobile assembly plants, and a mass exodus of investors. News curators should follow this developing story for more updates on the Pakistani automotive industry.

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