Honda Atlas also cuts prices after rupee’s appreciation
Honda Atlas Cars Limited on Wednesday became the third automaker to lower prices after the recent recovery of the rupee after increasing rates last month.
In a letter sent to dealers, the company’s GM stated that the new retail prices—reduced from 280,000 to Rs550,000 —would come into effect on August 17 (yesterday).
The new prices of City MT 1.2 L, CVT 1.2 L, and CVT 1.5 L are Rs3.769 million, Rs3.899m, and Rs4.139m, respectively. The City Aspire MT 1.5L and CVT 1.5L are priced at Rs 4.299 m and Rs 4.479 m.
In the meantime, the new BRV price is Rs4.939 m, while the Civic 1.5L M CVT, 1.5L Oriel M CVT, and RS 1.5L LL CVT models cost Rs6.349 m, Rs6.599 m, and Rs7.549 m, respectively.
The new prices apply to past due orders and new orders placed as of August 17th, as per the letter. It further stated that the prices could change and that the rates in effect at the time of delivery would apply.
The delivery time committed by the company may be delayed because of the State Bank of Pakistan’s restrictions on letters of credit, he said.
Auto manufacturers, plagued by volatile exchange rates, higher taxes, and lower parts supply, raised their prices last month. However, following the appreciation of the local currency in successive sessions, Indus Motor Company had on Monday reduced the prices of Rs260,000-Rs1.140m vehicles citing the resumption of the rupee.
That was followed by Pak Suzuki Motor Company Limited’s announcement that the prices of the different models had been discounted by Rs75,000-199,000 effective August 16.