KARACHI: After Toyota, Suzuki, and KIA, Honda Atlas has jacked up prices of its entire line-up for the second time in two weeks, with the hike being as high as Rs1.1 million on a cumulative basis.
According to a notice sent to its dealers on Monday, the car manufacturer raised the rates of its vehicles by up to Rs550,000.
The new prices came into effect on February 4, 2023.
It, however, maintained that the company has tried its best to pass on minimum impact to its customers.
The price of its most famous Civic 1.5L CVT has increased to Rs 7,299,000 with a price difference of Rs500,000. City 1.2L is now available at Rs4,329,000, and BRV at Rs5,649,000.
The top-of-the-line model of Civic RS1.5 CVT has soared to Rs8,649,000 with an increase of RsRs550,000.
Over the past one month, Indus Motor Company (Toyota), Lucky Motor Corporation (KIA) and Hyundai Nishat Motor have also announced an increase in car prices amid rapid rupee depreciation. Industry experts fear that other automobile assemblers will likely follow the same trend.
Pakistan’s automobile sector has been hit hard owing to problems with the opening of Letters of Credit (LCs), arising due to the rapidly depleting foreign exchange reserves and weakening rupee.
