Honda slashes car prices in Pakistan after dollar value falls

KARACHI: After a fall in the value of the dollar in Pakistan, Honda Atlas Cars on Wednesday slashed prices of its vehicles within a range of 280,000 to 550,000 rupees in a bid to pass on the benefits to the end consumer.

In a notification to its dealers, Honda Atlas said that “given the appreciation of the rupee against the dollar, Honda is pleased to pass on the impact of the currency exchange to its valued customers.”

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

The company has reduced the prices of five variants of the City model from Rs280,000 to 320,000. Following the overhaul, the base City MT 1.2L is now available at Rs3.769 million while the top-end City Aspire CVT 1 variant, 5L is sold for Rs4.479 million.

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

From July 28 to August 16, the rupiah rallied more than 12% in the interbank against the US dollar due to positive developments related to dollar inflows from the United Arab Emirates, Saudi Arabia and of the International Monetary Fund (IMF). However, the local currency closed with a depreciation of Re0.98 or 0.46% against the greenback on Wednesday.

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

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