Honda Atlas increases car prices by as much as Rs400,000

Citing "unavoidable" circumstances that "compel it to pass on part of the impact to the market", Honda Atlas Cars Pakistan (HACPL) has raised prices across its entire product-range, with the hike going as high as Rs400,000 (nearly 15%).

"Keeping in view the increase in FOREX, shipping cost, and raw materials, it is unavoidable for HACPL to maintain the current retail prices, and we are compelled to pass on part of this impact to the market," it said in a letter addressed to dealers on Friday.

The company said it has tried to facilitate the customers in this price increase.

The price-revision comes as rupee hit its record-low on Friday, depreciating to close in on the 182 level against the US dollar. Earlier this week, Indus Motor Company, the makers of Toyota-brand vehicles in Pakistan, also increased prices across its product line-up, citing similar reasons.

Also read: Overall auto market to contract 10-15% as car prices come under pressure: Indus Motor CEO

Honda's price-increase

In a letter circulated among dealers, and available with Business Recorder, the company said it will implement the increase in two phases.

However, all orders booked from March 26, 2022 onwards will see the maximum price-increase.

Honda Atlas reveals 'tentative' prices of its 2022 Civic

Honda City's 1.2L MT saw the biggest price-jump, going up from Rs2,729,000 to Rs3,129,000, an increase of Rs400,000. Its CVT variant saw a hike of Rs300,000, with the new price being Rs3,249,000. The three other variants of the City -- 1.5L CVT, 1.5L Asp MT, and 1.5L Asp CVT -- saw a price-hike of Rs300,000, Rs300,000 and Rs295,000, respectively.

The new Civic

Interestingly, the new Civic, launched barely a few weeks ago, also saw a price-jump of as much as Rs350,000.

Business Recorder earlier reported that the Civic is currently facing a order-lag of nearly a year with two of its variants slated for delivery in February/March 2023.

Its base variant, the 1.5 Turbo M-CVT, saw a hike of Rs300,000. Its now priced at Rs5,399,000. Its RS 1.5L Turbo LL-CVT saw an increase of Rs350,000, taking it to Rs6,499,000.

The details of prices and other terms/conditions are listed below:

Also read: Suzuki: Speed bump ahead!