Sales are predicted to increase in the coming days compared to the previous Market Year (MY2023), according to Honda Atlas Cars Limited (HACL).
The company said in a recent corporate briefing that banks are opening Letters of Credit (LCs) for the car industry. As to the claim, sales will rise in MY 2024 if restrictions on imports are not restored by the government.
The supplier said that the rates have been set in line with the current US Dollar rate, which is usually around Rs. 287, according to Topline Securities. If the value of the rupee falls even lower, car prices might increase once more.
For each of its automobiles, Honda highlighted the level of localization. The following is the rate:
Honda also stated that it would soon introduce hybrid electric cars (HEVs) in Pakistan. The company made no comments about the exact schedule, the models that will be released, or whether those models will be made in-country.
Honda sold 25,726 vehicles in MY 2023 as opposed to 37,613 vehicles in MY 2022. The company aims to improve these numbers in MY 2024 after a difficult year brought on by import restrictions on automobiles.