Honda Wants to Launch Hybrid Cars in Pakistan Soon
Sales are expected to increase in the coming days compared to the previous Market Year (MY2023), according to Honda Atlas Cars Limited (HACL).
The business said in a recent corporate briefing that banks are opening Letters of Credit (LCs) for the car sector. According to the statement, sales will rise in MY 2024 if import restrictions are not reinstated by the government.
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The manufacturer said that the rates are now established in accordance with the current US Dollar rate, which is averaging around Rs. 287, according to Topline Securities. If the value of the rupee falls even lower, car prices could increase once more.
For each of its vehicles, Honda highlighted the level of localization. The following is the rate:
| Model | Localization Rate |
| Honda City | 71% |
| Honda Civic | 61% |
| Honda BR-V | 55% |
| Honda HR-V | 52% |
Honda also announced that it would soon introduce hybrid electric cars (HEVs) in Pakistan. The corporation made no comments regarding the precise timetable, the models that would be released, or whether those models will be built locally.
Honda sold 25,726 vehicles in MY 2023 as opposed to 37,613 vehicles in MY 2022. The company hopes to improve these numbers in MY 2024 after a difficult year brought on by import restrictions on automobiles.
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