Honda joins other Japanese automakers in lowering price of vehicles
After Toyota and Suzuki lowered prices of vehicles, Japanese auto manufacturer Honda has also lowered prices for its locally assembled vehicles by as much as 7.7% or up to Rs0.55 million.
In the new prices issued by Honda Atlas Cars (Pakistan) Limited, prices of their locally assembled cars, also known as completely-knocked-down (CKD) units have been cut.
The company explained that the price cut was due to the appreciation of the rupee against the US dollar. The rupee has gained as much as Rs25 against the greenback since the turn of the month.
The price changes have been announced for variants of their subcompact sedan City, City Aspire, subcompact crossover SUV BR-V, and their sedan Civic.
As a result of the price reduction, the prices of City 1.2L manual and CVT variants climbed down from four million rupees plus psychological pricing to Rs3.769 million and Rs3.899 million respectively after their prices were reduced by Rs280,000 and Rs300,000.
Similarly, the price of the subcompact crossover SUV BR-V was lowered by Rs360,000 from Rs5.299 million to Rs4.939 million.
The prices of Civic 1.5L Oriel M CVT were reduced by Rs500,000. As a result, its prices fell from Rs7.099 million to Rs6.599 million.
The prices of Honda’s top variant, Civic RS 1.5L LL CVT, saw the most reduction in price, by Rs550,000, from Rs8.099 million to Rs7.549 million.
| Model | Previous Price | New Price | Price Reduction |
|---|---|---|---|
| City M 1.2L | 4,049,000 | 3,769,000 | 280,000 |
| City CVT 1.2L | 4,199,000 | 3,899,000 | 300,000 |
| City CVT 1.5L | 4,439,000 | 4,139,000 | 300,000 |
| City Aspire MT 1.5L | 4,609,000 | 4,299,000 | 310,000 |
| City Aspire CVT 1.5L | 4,799,000 | 4,479,000 | 320,000 |
| BR-V CVT S | 5,299,000 | 4,939,000 | 360,000 |
| Civic 1.5L M CVT | 6,799,000 | 6,349,000 | 450,000 |
| Civic 1.5L Oriel M CVT | 7,099,000 | 6,599,000 | 500,000 |
| Civic RS 1.5L LL CVT | 8,099,000 | 7,549,000 | 550,000 |
The reduction in prices also comes on the back of fresh sales data for Honda’s vehicles - City and Civic variants - which saw sales fall from 3,421 in June to 2,408 units in July 2022.
By comparison, last year, Honda’s sales in June 2021 were at 2,826 units which fell to 1,700 units in July 2021.
Earlier in the week, Suzuki and Toyota had lowered their prices.
Which cars will it impact
Honda said that the new prices will be applicable on all cars booked from August 17, 2022.
Moreover, the company said that the price reduction will also impact limited vehicles which have been booked prior to August 17, 2022.
The company explained that all those cars which are slated for delivery in October 2022 will be invoiced as per the revised prices.
Moreover, unclear back orders with estimated delivery dates till September 2022 can “avail currently applied price on order (as per previous letter July 30 – 50% of the total price increase). However, owners of such cars need to have completed their payments for the car by August 20, 2022.
The company said that any government taxes applicable at the time of delivery will have to be paid by the customers.
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