Honda Atlas Cars Limited (HACL) is expecting a significant boost in sales in the upcoming period, projecting a favorable market outlook compared to the previous Market Year (MY2023).
Positive Projections Amid Opening of Letters of Credit
During a recent corporate briefing, HACL revealed that banks are opening Letters of Credit (LCs) for the automotive industry. This development is expected to facilitate increased sales in MY2024, provided there are no further restrictions on automotive imports imposed by the government.
Currency Fluctuations May Impact Car Prices
Topline Securities reported that HACL currently sets its car prices based on the prevailing US Dollar rate, which stands at approximately Rs. 287. However, the possibility of the rupee depreciating could lead to potential price hikes in the future.
| Model | Localization Rate |
|---|---|
| Honda City | 71% |
| Honda Civic | 61% |
| Honda BR-V | 55% |
| Honda HR-V | 52% |
Honda’s Focus on Localization and Future Plans for Hybrid Electric Vehicles
During the corporate briefing, Honda emphasized its commitment to localization for each of its car models, aiming to further strengthen its presence in the local market.
Honda’s Ambitious Plans for Hybrid Electric Vehicles in Pakistan
Honda announced its strategic intent to introduce hybrid electric vehicles (HEVs) in the Pakistani market in the future. However, specific details regarding the timeline, models, and local assembly remained undisclosed.
