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KARACHI: After a decline in the value of the dollar in Pakistan, Honda Atlas Cars on Wednesday reduced the prices of its vehicles in the range of Rs280,000-550,000 in a bid to pass on the benefit to the end consumer.
In a notification to its dealers, Honda Atlas stated that “keeping in view the appreciation of rupee against the dollar, Honda is pleased to pass on the forex impact to its valuable customers.”
The new prices came into effect on August 17, 2022.
The company reduced the prices of five variants of the City model by Rs280,000-320,000. Following the revision, the base City MT 1.2L is now available at Rs3.769 million while the high-end City Aspire CVT 1.5L variant is being sold for Rs4.479 million.
The rate of BR-V has been slashed by Rs360,000 to Rs4.939 million. Similarly, the price of Civic models saw a cut of Rs450,000-550,000. The Civic 1.5L MCVT is now available at Rs6.349 million while Civic RS 1.5L LL CVT is being sold for Rs7.549 million.
From July 28 to August 16, the rupee recovered by over 12% in the inter-bank against the US dollar owing to positive developments related to dollar inflows from the UAE, Saudi Arabia, and the International Monetary Fund (IMF). However, the local currency closed with depreciation of Re0.98 or 0.46% against the greenback on Wednesday.
Earlier, the Indus Motor Company and Pak Suzuki Motor had announced reductions in the prices of their cars.