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In line with the decline in value of dollar in Pakistan, Honda Atlas Cars on Wednesday reduced the prices of its vehicles in the range of Rs280,000-550,000 in a bid to pass on the benefit to the end consumer.

Earlier, the Indus Motor Company and Pak Suzuki Motor had announced reductions in prices of their cars.

In a notification to its dealers, Honda Atlas stated that “keeping in view the appreciation of rupee against dollar, Honda is pleased to pass on the forex impact to its valuable customers.”

Pak Suzuki cuts car prices by up to Rs199,000

The new prices came into effect on August 17, 2022.

The company reduced the prices of five variants of City model by Rs280,000-320,000. Following the revision, the base City MT 1.2L is now available at Rs3.769 million while the high end City Aspire CVT 1.5L variant is being sold for Rs4.479 million.

Tracking rupee's movement, Indus Motor Company reduces car prices

The rate of BR-V has been slashed by Rs360,000 to Rs4.939 million. Similarly the price Civic models saw a cut of Rs450,000-550,000. The Civic 1.5L MCVT is now available at Rs6.349 million while Civic RS 1.5L LL CVT is being sold for Rs7.549 million.

From July 28 to August 16, the rupee recovered by over 12% in the inter-bank against the US dollar owing to positive developments related to dollar inflows from the UAE, Saudi Arabia and the International Monetary Fund (IMF). However, the local currency closed with a depreciation of Re0.98 or 0.46% against the greenback on Wednesday.

It now appears that rupee may have reached its short-term equilibrium.

“I expect the remaining auto assemblers to announce price reductions as well,” said auto part manufacturer and expert Mashhood Khan. “I also expect car makers to reduce the price again as the allied industry, such as steel makers, will also cut rates of their products due to sharp rupee appreciation.”

Khan cherished that automobile firms and the allied industry were setting a good trend in response to rupee’s recovery.

“They are quick to increase prices when rupee fall. In the past, they have failed to reduce the rates when the currency appreciated,” he said. “It is good to see that prices have decreased this time around.”

Khan hoped that other industries, such as food and fast moving consumer goods (FMCG), would also follow the trend and cut prices.

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Comments are closed.

Michael Jackson Aug 18, 2022 05:02pm
Best car in the world. prices should be increased. it should at least cost 25 million. 7 million is so cheap.
thumb_up Recommended (0)
abdrauf akhtar Aug 18, 2022 05:29pm
When Honda is going to reduce motorcycle prices in Pakistan ?
thumb_up Recommended (0)
Hafiz talha Khalid Aug 19, 2022 02:54am
Honda City my Favorite Car
thumb_up Recommended (0)
Hafiz talha Khalid Aug 19, 2022 02:55am
Honda City my Favorite.
thumb_up Recommended (0)
Shamraiz Hassan Aug 19, 2022 05:59pm
Still they need to decrease the cars otherwise they won't get good response. You will find the result in the end of this month.
thumb_up Recommended (0)
Sohaib riaz Aug 20, 2022 03:58am
How we can apply plz let me
thumb_up Recommended (0)
Usman Riaz Aug 20, 2022 05:24am
At least decrease 1.5 millions otherwise no benefits because they are increase almost double
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Naveed Iqbal Aug 20, 2022 07:13am
Your falow the Imran Khan polecy increase for 15 lac and reduce for 3 lac what joke
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Ibrahim Aug 20, 2022 04:25pm
@abdrauf akhtar, ghareeb ka is mulk ma koi ni pochta bai. Many pakwheels walon ko msg b kia tha k bai bike companies ko b request krly ghareeb awam ki trafsy.
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Muhammad Sakim Aug 20, 2022 07:23pm
I love honda civic 2022 but now it's getting harder to afford day by day. Almost 7.6 million it doesn't even worth it. The actual price have to be around 4.5 to 5.2 or 5.4 million. dollar hikes automotives hikes but when dollar is decreases automotives only decrease it 20 to 30 percent or even not. I am fine with my civic 2019.
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Muhammad Sakim Aug 20, 2022 07:30pm
@Michael Jackson, if you have a lot then don't spend it on Honda civic, go get yourself a Fortuner Legender around 14 to 16 million. It's SUV and also bullet proof.
thumb_up Recommended (0)
Owais Aug 20, 2022 07:44pm
Not decreased too much... They should decrease more..
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Mianmudassar Aug 21, 2022 02:53am
People should not buy cars then compies will must decrease prices
thumb_up Recommended (0)
Mianmudassar Aug 21, 2022 02:53am
People should not buy cars then compies will must decrease prices
thumb_up Recommended (0)

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