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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