Following the footsteps of Pak Suzuki and Indus Motors, the Honda Atlas Cars Limited (HACL) the other day jacked up prices of various models by Rs20,000 to 100,000 effective from January 16.
Honda City 1.3 MT and AT will cost Rs2.329 million and Rs2.509 million respectively, up by Rs20,000. City 1.5L MT, AT, Aspire MT and Aspire AT will be available at Rs2.389 million, Rs2.55 million, Rs2.539 million and Rs2.719 million, up by Rs20,000.
Civic Turbo, 1.8LVTI, I.8L VTI CVT prices have been increased to Rs 4.479 million, Rs3.779 million and Rs3.549 million, up by Rs80,000, Rs30,000 and Rs50,000 respectively.
Honda BR-V MT will cost Rs2.999 million, showing an increase of Rs100,000 while CVT and VS CVT models will be available at Rs3.149 million and Rs3.299 million, up by Rs50,000 each.
Depreciation of rupee against the US dollar and a high interest rate has forced the auto industry on a bumpy ride and they jacked up prices more than once in 2019.
But the current price hike seems to be an attempt to take advantage of seasonality as many consumers wait for the new year to purchase new vehicles.
Generally, buyers resume purchases every year due to change of model year and slowing down their buying activities in the months of November and December.