Honda Atlas is considering launching hybrid vehicles in Pakistan. This was revealed in a briefing attended by brokerage houses, but the company decided not to provide any other information about its models or timeline for the launch.
Since the banks are now opening Letters of Credit (LCs) for the auto industry, the company will be in a position to not only resume its routine operations but introduce new models to strengthen its position in the market. According to sources, Honda’s hybrid vehicle in Pakistan will likely be an answer to Toyota’s upcoming Corolla Cross hybrid in the country. However, even Toyota Pakistan for now, hasn’t given any definite timeframe regarding the launch of its first locally assembled hybrid in the country.
Related: Will IMC Launch Local Assembled Toyota Corolla Cross in 2023?
Although the company hasn’t revealed the hybrid model it plans to introduce, sources speculate that it’s likely going to be the HR-V hybrid, the gasoline variant of which was launched by Honda Atlas late last year. Although there are hybrid variants of the City and Civic in regional markets, it is still too early to speculate on whether they will ever reach Pakistan.
The company also mentioned during the briefing that it would increase automobile pricing if the currency continues to decline or if more taxes are levied. According to the company briefing:
“Around 90% of the total cost is derived from raw material cost where 60-70% of total raw material cost is exposed to US dollar fluctuations. The present car prices are currently set at around Rs 287 (to the US dollar).”
Briefing added that Honda management also believes car sales will increase compared to last year, “provided there are no restrictions on LCs imports”. It is pertinent to mention that Honda Atlas sold 39,452 units in FY22 while it sold only 16,879 units in FY23 suffering from a 57% decline in sales.
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
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