Honda Atlas Cars Limited (HACL) has once again raised its car prices for the second time in two weeks. The company attributed the increase to rising inflation and a depreciating local currency.
Below are the new prices for all Honda cars:
|Car||Old Price (Rs)||New Price (Rs)||Hike (Rs)|
|City 1.2 M/T||4,069,000||4,329,000||260,000|
|City 1.2 CVT||4,199,000||4,469,000||270,000|
|City 1.5 CVT||4,449,000||4,739,000||290,000|
|City Aspire 1.5 M/T||4,629,000||4,939,000||310,000|
|City Aspire 1.5 CVT||4,799,000||5,119,000||320,000|
|Civic 1.5T M-CVT||6,849,000||7,299,000||450,000|
|Civic Oriel 1.5T M-CVT||7,099,000||7,599,000||500,000|
|Civic RS 1.5T LL-CVT||8,099,000||8,649,000||550,000|
|HR-V VTi 1.5||6,399,000||6,799,000||400,000|
|HR-V VTi S 1.5||6,599,000||6,999,000||400,000|
|BR-V S 1.5||5,299,000||5,649,000||350,000|
The automobile industry is facing challenges due to foreign exchange limitations and parts supply issues. The Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM) and the Pakistan Automotive Manufacturers Association (PAMA) have jointly sent a letter to the Governor of the State Bank of Pakistan (SBP), Jameel Ahmed, highlighting the dire situation.
In the letter, the organizations state that the industry is facing the brink of collapse due to restrictions imposed by the SBP on imports and a lack of support from banks in the automotive sector. This has resulted in sporadic plant closures and lay-offs among assemblers and suppliers.
The joint letter from PAAPAM and PAMA advised that failure to take corrective action would result in negative consequences such as widespread job loss, reduction in government income, the shutdown of car assembly plants, and capital loss. The letter emphasized that the negative effects of the letter of credit (LC) issue have contributed to the collapse of the automobile industry.
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