Based on seasonality, the company’s vehicle prices have increased from Rs20,000 to Rs100,000 to counter a fall in profit margins.
According to a company notification sent to its dealers, the Japanese car manufacturer has increased the price of Rs100,000 for BR-V MT by Rs2.999 million to Rs2,899 million.
Civic Turbo was the second largest price increase. Rs80,000 to Rs4,479 million from Rs4,399 million was more expensive than the car.
BR-V CVT was raised from Rs3.099 million to Rs3.149 million by Rs50,000. BR-V S CVT prices rose from Rs3,249 million by Rs50,000 to Rs3,299 million.
The price increased from Rs3,749 million to Rs3,779 million by Rs30,000 for the price of 1,8L VTI SR CVT. From Rs3,499 million, the 1,8L VTI CVT price increased from Rs50,000 to Rs3,549 million.
The 1.3L MT price rose from Rs2.309 million to Rs2.329 million with Rs20.000 million to Rs2.509 million with Rs2.489 million costing 1.3L AT.
The price of 1.5L MT was raised by Rs20,000 to Rs2.389 million from Rs2.369 million and 1.5L AT also got costlier by Rs20,000 to Rs2.559 million from Rs2.539 million.
Similarly, 1.5L Aspire MT will now cost Rs2.559 million, up Rs20,000 from Rs2.539 million, while 1.5L Aspire AT will be sold at Rs2.719 million, also up Rs20,000 from Rs2.699 million.
Honda Atlas has made an obvious attempt to take advantage of seasonal conditions to increase its profit margin according to industry sources in following the footsteps of its counterparts, the Pak Suzuki motor company and Indus Motor.
In November 2019, sales in the automotive industry fell by 44 percent to 9,789 units in the same month last year compared to 17,442.
Honda Atlas was the major loser among the three Japanese automakers in Pakistan as its sales plunged 62% to 1,303 units in November.
The auto industry had been on a bumpy ride in 2019 due to depreciation of the rupee against the US dollar and a high interest rate. Automakers increased prices more than once 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.
