Honda follows Toyota, Suzuki to jack up its car prices

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KARACHI: Honda, the third of the Japanese car-maker troika in Pakistan, has followed the other two – Toyota and Suzuki – and has raised prices of its cars by Rs50,000 and Rs60,000.

Toyota was the first to increase prices of its cars last month and then Suzuki followed early this month.

Honda has increased the prices of its variants 1.8L VTI CVT, 1.8LVT SR CVT, 1.3LMT and 1.3L AT by Rs50,000. Meanwhile, prices of 1.5L MT, 1.5L AT, 1.5L Aspire MT and 1.5L Aspire AT have been raised by Rs60,000.

The prices for BR-V CVT and BR-V S CVT remained unchanged.

The increase in prices of the cars was anticipated following rupee devaluation against US dollar last month. Pakistan’s auto industry is heavily dependent on imports of auto parts and completely knocked-down (CKD) kits, which constitute around 30 per cent to 50 per cent of their raw material cost.