Honda Slashes Car Prices Following Depreciation of US Dollar

Honda Slashes Car Prices Following Depreciation of US Dollar

Honda has recently announced a significant reduction in the prices of its cars in Pakistan. This decision comes as a result of the depreciation of the US dollar against the Pakistani rupee. The auto-giant aims to provide more affordable options to its customers in light of the current economic situation.

Price Reduction Details

The price cut applies to various Honda models, with the most expensive car, Civic RS1.5L, seeing a reduction of Rs. 300,000. The cheapest car in Pakistan, City MT 1.2L, also experienced a price drop of Rs. 100,000.

Here are the new and old prices of some Honda models after the price cut:

City ModelPrevious Price (PKR)New Price (PKR)
City MT 1.2L4,799,0004,699,000
City CVT 1.2L4,929,0004,829,000
City CVT 1.5L5,549,0005,439,000
City Aspire MT 1.5L5,759,0005,649,000
City Aspire CVT 1.5L5,979,0005,849,000

Furthermore, the prices of BR-V and HR-V models have also been reduced:

BR-V and HR-V ModelPrevious Price (PKR)New Price (PKR)
BR-V CVT S6,529,0006,299,000
HR-V VTI7,899,0007,649,000
HR-V VTI S8,199,0007,899,000

Lastly, the prices of Civic models have been revised as well:

Civic ModelPrevious Price (PKR)New Price (PKR)
Civic 1.5L M CVT8,599,0008,329,000
Civic 1.5L Oriel M CVT8,949,0008,659,000
Civic RS 1.5L LL CVT10,199,0009,899,000

Industry-Wide Price Reductions

Honda is not the only automaker to reduce its prices in response to the current economic situation. Toyota Indus Motor Company, MG Motors, and Kia Lucky Motors have also implemented price cuts on their vehicles. Toyota reduced prices by up to Rs. 1.3 million, MG Essence’s price was slashed by Rs. 600,000, and KIA announced a reduction of up to Rs. 500,000.

Production Challenges

While the price reductions are a welcome change for consumers, the auto industry has been facing production challenges due to inventory shortages. In October 2023, Toyota, Suzuki, and Honda temporarily suspended their production due to these issues. Although production is set to resume in November, further plant shutdowns may be necessary if the inventory shortages persist.

Leave a Reply

Your email address will not be published. Required fields are marked *