After Honda and Toyota it is expected that Pak Suzuki, FAW and other Chinese car assemblers will also increase prices soon.
Honda Atlas Cars Ltd (HACL) on Friday increased the price of various vehicles by Rs 260,000- 425,000, effective from Jun 24, due to recent rupee devaluation and negative exchange rate impacts.
After a jump of Rs 400,000, the new prices of Honda Turbo RS and 1.8L VTI CVT are Rs 4.199 million and Rs 3.599m respectively while the rate of 1.8L VT SR CVT is up Rs 425,000 to Rs 3.824m.
The new prices of 1.3L MT, I.3L AT, 1.5L MT, I.5L AT and 1.5L Aspire MT are Rs 2.179m, Rs 2.319m, Rs 2.239m, Rs 2.379m and Rs 2.394m — higher by Rs 260,000. Meanwhile, 1.5L Aspire AT will cost Rs 2.554m, showing a rise of Rs 280,000.
HACL has jacked up the rates of BRV MT by Rs 305,000 to Rs 2.589m while BRV CVT and BRVS CVT will now cost Rs 2.784m and Rs 2.919m, up by Rs 350,000 each.
The company has informed its authorised dealers that from July 1, any government taxes (federal excise duty, customs duties etc) will be added to these new prices.
The government in Budget 2019-20 had levied federal excise duty in the range of 2.5-7.5pc on vehicles of various engine power.
Previously, Honda Atlas revised the prices of Automobiles in April 2019 and considering the recent hike in prices after the budget, it is expected that Pak Suzuki, FAW and other Chinese car assemblers will also increase prices soon.