Honda Decreases Its Car Prices As Well

Honda Decreases Its Car Prices As Well

Honda Car Price in Pakistan 2022

What began with Toyota seems to have become a trend across the local auto industry. First Toyota, then Suzuki and now Honda has decreased the prices of its cars. The new prices will take effect from today, August 17, 2022. 

To know the latest prices of Toyota and Suzuki cars in Pakistan, read:

Pak Suzuki DECREASES Prices of Its Cars by As Much As Rs.200,000
Toyota Decreases Car Prices: Who Is Indus Motors Trying to Fool?

Let’s take a quick look at what a new Honda car will cost you now.

ModelOld Price(Rs)New Price(Rs)Difference(Rs)
City 1.2 MT4,049,0003,769,000280,000
City 1.2 CVT4,199,0003,899,000300,000
City 1.5 CVT4,439,0004,139,000300,000
City 1.5 Aspire MT4,609,0004,299,000310,000
City 1.5 Aspire CVT4,799,0004,479,000320,000
BR-V CVT S5,299,0004,939,000360,000
Civic Standard6,799,0006,349,000450,000
Civic Oriel7,099,0006,599,000500,000
Civic RS8,099,0007,549,000550,000

Why Have Companies Started to Reduce Car Prices?

Though Suzuki never gave a reason, Toyota and now Honda are claiming that the weakening US Dollar has been able to help them cut down the prices. It is very important for every motorist and auto enthusiast in Pakistan to verify the authenticity of this claim. After all, these and all other auto companies have jacked up the prices of their vehicle multiple times this year. Each increase has come with the same excuse, a strengthening US Dollar and a weakening Pak Rupee. 

Honda Atlas Cars Limited Has Not Been Selling Too Many Cars Lately

On July 27, 2022, a leading English daily reported that the company had declared its profit for the first quarter ending on June 30, 2022. Honda claimed it had earned a profit of Rs.658 million, which is 29% less than what it declared (Rs.928 million) during the same time last year.

So, Honda Pakistan’s profit has declined lately.

Now, look at their current year-on-year (YOY) and month-on-month (MOM) sales numbers across different models.

Honda’s two most popular models – City and Civic sales (YOY) numbers are: 

July 2021July 2022Difference

MOM numbers are:

Jun 2022July 2022Difference

Honda BR-V

Honda’s other hottest selling model, BR-V posted the following (YOY) sales numbers:

July 2021July 2022Difference

This subcompact crossover SUV’s MOM sales numbers are:

Jun 2022July 2022Difference

Looking at the company’s declining sales and profits, we are of the opinion that it has decided to slash prices of its vehicles to boost their sales. While a weakening Dollar could be a plausible reason behind this otherwise welcomed news, it is largely because of the company’s internal reasons.  

Now that Honda Pakistan has slashed the prices by as much as Rs.550,000, are you willing to buy a new Honda car now? Or would you still prefer to buy a used Honda car?

Let us know. 

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