Auto manufacturer Honda Atlas Cars (Pakistan) Ltd. has increased prices of its various vehicles from Rs50,000 (lowest) to Rs100,000 (highest).
In a circular issued to their dealers, HACPL says that the company is compelled to increase the prices of Honda cars due to the negative exchange rate.
Here is the list of the updated prices.
The new price surge will be effective from October 22, 2018.
The surge in price is due to the devaluation of the rupee. In simple terms, not all parts of the cars are manufactured locally, so the automakers are forced to import parts from foreign vendors, which due to the devaluation of the rupee have now become expensive.