Following the price increase by Toyota Indus, Honda Atlas Cars Pakistan Limited (HACPL) has now revised the prices of its vehicle lineup effective from the 22nd of October 2018.
According to the notification issued to their dealers, HACPL said that the company is forced to increase the prices due to “negative exchange rate”. Like Toyota, the price increase by Honda will be implemented in two stages.
The prices of vehicles booked between 22nd October and December 2018, have been revised from PKR 50,000 to up to PKR 100,000. In the next stage, effective from January 2019 onward, the prices will be further escalated from minimum PKR 100,000 up to PKR 210,000.
Industry analysts argue that Honda Pakistan was trying to curb the traditional slump in the sales that occur at year-end, every year. An auto industry expert on the condition of anonymity said:
“If you look at the car sales stats of previous years, you will notice that it is a common trend that people tend to stop buying vehicles at the end of the years. The premium on vehicles also drops in December. It feels like Honda, by showing that the cost of vehicles will be significantly higher next year, is trying to scare people into buying their vehicles before that actually happens.”
According to the handout, October and November delivery orders with partial payments will be delivered on Nov-Dec price. Delivery orders for December, whether full or partial payments, will be delivered on Nov-Dec price, while January 2019 and onward due delivery orders, whether full or partial payments, will be delivered on January 2019 onward price.