Two of the major car manufacturers in Pakistan, Honda Atlas and Indus Motor Company (also known as Toyota Pakistan) have risen prices of their different car variants to Rs170, 000 and Rs580,000 respectively.
The new prices have come into force on May 1st.
Honda Atlas hiked the price of its City and Civic series and BR-V. The prices of the various City variants have been raised to Rs150,000.
Honda Atlas Cars Pakistan Limited said it raised the price “with a view to further increasing FOREX.” The Pakistani rupee has been pressured against the US dollar while the country’s foreign reserves have been dwindling in the past month.
The company has notified the prices, which do not include transport charges and governmental taxes.
The price of Honda BR-V has been to Rs 4,249,000 of Rs 4,079,000 following an increase of Rs 170,000.
Toyota also cited the depreciation of the rupiah as a reason for increasing prices. The prices of the Yaris variants have been increased from Rs160000 to Corolla by 21000.
Fortuner recorded the greatest hike up to Rs580,000, while Hilux Revo increased by Rs410,00.