Honda Atlas Cars Limited (HACL) predicts that sales would rise over the next few days compared to the previous Market Year (MY2023).
Banks are opening Letters of Credit (LCs) for the automotive industry, the company reported in a recent corporate briefing. If the government does not reintroduce import restrictions, sales will increase in MY 2024, the document claims.
According to the manufacturer, the tariffs are now set in accordance with the current US Dollar exchange rate, which, according to Topline Securities, averages approximately Rs. 287. The price of cars can rise once more if the rupee’s value drops any further.
Honda emphasized the level of localization for each of its automobiles. The rate is as follows:
| Model | Localization Rate |
| City | 71% |
| Civic | 61% |
| BR-V | 55% |
| HR-V | 52% |
Honda To Launch Hybrid Cars Soon
Additionally, Honda declared that it would soon launch hybrid electric vehicles (HEVs) in Pakistan. Regarding the precise timeline, the models that would be distributed, or whether those models would be created locally, the firm kept quiet.
Compared to MY 2022’s 37,613 sales, the company sold 25,726 vehicles in MY 2023. After a challenging year imposed on by limits on automotive imports, the business intends to improve these numbers in MY 2024.
To read our blog on “Honda City prices rise by up to Rs. 2 million per year,” click here.
