The 11th-gen Honda Civic has completed 2 years of its presence in the Pakistani market. Launched back on the 5th of March 2022, the 11th generation Civic was the largest & the most expensive locally assembled Civic model ever sold in Pakistan.
When launched, the 11th gen Civic available in three variants was priced at PKR 50.99 lac for the base variant, PKR 53.99 lac for Oriel, and PKR 61.49 lac for the flagship RS variant. However its price kept climbing at regular intervals and today, the variants are priced at PKR 83.29 for the base variant, PKR 86.59 lac for Oriel, and PKR 98.99 lac for the top-spec RS trim.
It also turned out to be the slowest-selling Civic in Honda’s 30-year history in Pakistan because of its astronomically expensive pricing. Honda managed to sell 5,693 units of Civic between March and December 2022 but sold only 1,967 units the following year in 2023. As of now, the cumulative sales stand at 7,660 units which renders a rather dismal monthly sales average of 348 units. Not to mention the sales average of the preceding 10th gen Civic model peaked at around 1,660 units a month.
Related: Honda Sales in Pakistan Hit Rock Bottom
However, this does not imply that low sales are the least lucrative for the company; in fact, Honda has made a sizable profit from selling only a few Civic units. At the time of its introduction, $1 was equivalent to around Rs 179 however today it hovers around Rs 280 rendering a 56% depreciation over 2 years. By contrast, the Honda Civic’s price has increased by 63%.
This is almost 7% additional to conversion rate variation which means the price of the Civic today is up to Rs 6.9 lac more than it was supposed to be. And this is exactly because of measures like this, that local assemblers were able to experience an 82% surge in revenue despite witnessing a deplorable 55% decline in sales.
Related: Honda Pakistan Suffered Lowest-Ever Sales in 2023
In January 2024, Civic managed to sell just 304 units which is 12% less than its actual monthly sales average. With constantly declining sales, coupled with economic turmoil and the presence of value-for-money premium CUVs in the same price domain, it is quite difficult for anyone to predict that Civic sales will increase anytime soon, but one thing is certain: given the company’s soaring revenues, declining sales aren’t hurting them.
A computer animation professional with over 23 years of industry experience having served in leading organizations, TV channels & production facilities in Pakistan. An avid car enthusiast and petrolhead with an affection to deliver quality content to help shape opinions. Formerly written for PakWheels as well as major publications including Dawn. Founder of CarSpiritPK.com
