With the country trapped in a situation of hyper inflation, car manufacturers have also raised the prices of their vehicles at the start of the current year. One of the largest car assemblers in Pakistan, Honda Atlas Cars Pakistan
Limited (HACPL), has raised the prices of the different models of cars by Rs. 20,000-30,000 for the year 2012.
One of the officials of the HACPL revealed that the Honda City model has been endorsed by a price rise of Rs. 20,000, whereas the purchase price of Honda Civic has been increased by Rs. 30,000 from seventh of January this year.
The price rise was incorporated by Honda Atlas after the other two car manufacturing giants in the market elevated the prices of their vehicles. The other leading Japanese car assembling companies in Pakistan, namely Toyota and
Suzuki, have already raised the prices of their cars last month, compelling Honda Atlas to go for a price raise as well.
Assemblers of Toyota Corolla and Daihatsu cars, the Indus Motor Company, add in 1.5 per cent increase in the prices of their vehicles on 9th of December 2011. This change was immediately followed by Suzuki car makers,
who further added Rs. 15,000-25,000 in their prices.
The prime cause for these changes in the prices of cars in the country is thought to be the rapid devaluation of Pak Rupee against the American dollar and Japanese Yen as well. The American dollar has reached its highest value
against the Pak Rupee during the last month.
Despite of an economic slump in the major sectors of the country, the trend of buying locally manufactured cars and importing highly expensive cars in Pakistan is ever increasing. Since the government has imposed a ban on importing
CNG kits and cylinders, the car assemblers fear a decline in the demand of vehicles in the coming future.