The rupee valuation has already caused much chaos across the country. Recently, Suzuki had revised prices of its vehicles to coup up with the increased cost of production. In a similar bid, Honda Atlas Cars Pakistan has also increased the prices of its vehicles up to Rs.100,000.
This again will be the third time in a row when a company has increased its prices in one year. Indus Motor Company that manufactures Toyota Corolla has also increased its prices three times in a year. This all came due to the downward trend of rupee against the dollar since the end of last year.
Civic’s 1.8 I-VTEC and 1.8 Oriel cars have witnessed the increase of around Rs.100,000. The new prices of these vehicles will be Rs.2.6 million and 2.75 million. With the new prices of Rs.1,94 million and Rs.2.08 million, City’s 1.5L Aspire MT and AT have also seen the prices rise of Rs.50000.
The cost of BRV has seen the rise of Rs. 35000 and similarly other variants as well have seen the rise of almost Rs.30,000.
Farheen Irfan, Elixir Securities analyst has said that price increase coming from Honda was surely expected as others have adopted the same strategy to shift the rupee devaluation onto the buyers.