Honda raises car prices by up to Rs 260,000 to Rs 400,000

KARACHI: Honda Atlas Cars has announced to inflate price of its cars by Rs 260,000-400,000 owing to the devaluation of Pak-rupee against the dollar, according to a notification issued by the company to its dealers.

The notification said that it is not possible to maintain the current rates, and Honda Atlas is compelled to increase the prices of its cars with effect from June 24, 2019.

The new prices are applicable from June 24, 2019, New RSP is applicable on new booking and back order with partial/full payment with below condition.

• Back order car due till June 19 and payments clear (parked till 21^st June will be delivered/invoiced on current price.
• Consignment stock available at dealerships can be converted/invoiced on current price till 22^nd June 2019.
• Remaining back order with full/partial payment will be invoiced onnew prices (June Price).
• Civic
• Civic 1.8L current price will be applicable till 29^th june on back order, New order aandconsignment conversion where full amount are receiving till June 29 and are inclusive of all taxes effective on date on invoice.

The company further announced that from 1^st july any government taxes (FED, Custom Duty etc) will be added on these new prices and will be communicated accordingly.

During last April, the company jacked up Rs 65,000-85000 on its all Honda models

“The auto companies’ profit margins contracted from 5-6% in December 2018 to around 3%,” said analyst. “Honda’s margin situation is also the same,” he said.

This is the 3^rd time in the current year the company increased its car prices. The previous increase was not enough according to the company’s books, said the analyst.

The nation is witnessing this chaotic inflation as the current government is not taking out-of-the-box steps to tackle the current situation due to which dollar is going up, said another analyst.

 

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