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Honda Car Prices in Pakistan After Reduction

Oct 28, 2023 Arifa Hussain

Honda Car Prices in Pakistan After Reduction

Honda Atlas Cars has joined the trend of lowering car prices in Pakistan, aligning with the stronger Pakistani Rupee's recent gains against the US Dollar. Honda Atlas Cars (Pakistan) Limited has opted to reduce the prices of its vehicle lineup, especially the popular Honda City models, making them more affordable for consumers.

In an official announcement, Honda Pakistan revealed the updated ex-factory prices for its entire range, marking reductions of up to PKR 300,000. This price adjustment aims to expand accessibility to Honda vehicles for a wider audience.

The most noticeable changes are seen in the Honda City series, generating excitement among potential buyers. For instance, the lowest-priced Honda car in Pakistan, the City MT 1.2L, now costs PKR 4.699 million after a discount of PKR 100,000, while the top-tier City Aspire CVT 1.5L is available for PKR 5.849 million following a reduction of PKR 130,000.

These revised prices went into effect on October 25, following similar price reductions by other car manufacturers such as Indus Motor Company, MG Motors, and Lucky Motor Corporation, as they pass on the benefits of the Rupee's appreciation.

The cost of Honda's most expensive car, the Civic RS 1.5L, has dipped below the PKR 10 million mark after a cut of PKR 300,000, now retailing at PKR 9.899 million.

Pakistan's automobile sector, heavily reliant on imports, had witnessed substantial price increases due to the local currency's prolonged depreciation against the US Dollar. The Rupee has since rebounded, stabilizing around the Rs279-280 level, thanks to government measures against smuggling and hoarding.

Beyond the Rupee's depreciation, the auto industry suffered from the prior government's import restrictions and soaring finance costs, which hindered consumer demand. In the first quarter of FY24, car sales in Pakistan plummeted by 40% year-on-years.

With high prices, costly auto financing, and increased taxes affecting sales, the automobile industry in Pakistan is grappling with demand challenges. These recent price cuts are an attempt to reinvigorate sales.

The reduced prices for Honda cars, categorized by model, are as follows:

Honda City Series:

City MT 1.2L: PKR 4,699,000 (Previous Price: PKR 4,799,000)

City CVT 1.2L: PKR 4,829,000 (Previous Price: PKR 4,929,000)

City CVT 1.5L: PKR 5,439,000 (Previous Price: PKR 5,549,000)

City Aspire MT 1.5L: PKR 5,649,000 (Previous Price: PKR 5,759,000)

City Aspire CVT 1.5L: PKR 5,849,000 (Previous Price: PKR 5,979,000)

BR-V and HR-V:

BR-V CVT S: PKR 6,299,000 (Previous Price: PKR 6,529,000)

HR-V VTI: PKR 7,649,000 (Previous Price: PKR 7,899,000)

HR-V VTI S: PKR 7,899,000 (Previous Price: PKR 8,199,000)

Honda Civic:

Civic 1.5L M CVT: PKR 8,329,000 (Previous Price: PKR 8,599,000)

Civic 1.5L Oriel M CVT: PKR 8,659,000 (Previous Price: PKR 8,949,000)

Civic RS 1.5L LL CVT: PKR 9,899,000 (Previous Price: PKR 10,199,000)

Why Have Companies Started to Decrease Car Prices?

The price reductions are attributed to the Rupee's strength, but it remains uncertain if production costs have decreased. Nonetheless, automakers are hopeful that these adjustments will stimulate sales in the face of a prolonged period of sluggish demand. As Honda Pakistan trims its prices by up to PKR 300,000, prospective buyers are presented with an enticing opportunity to purchase a new Honda vehicle, potentially reshaping their purchasing decisions.