Type to search



Business

Honda intends to launch more hybrid cars in Pakistan

Share
Honda intends to launch more hybrid cars in Pakistan

Honda Atlas Cars Limited (HACL) expects sales to increase in the coming days compared to the previous Market Year (MY2023).

The company indicated in a recent corporate briefing that banks are opening Letters of Credit (LCs) for the car industry. It also stated that sales will increase in MY2024 if the government does not impose further restrictions on automobile imports.

Also Read: MG to launch these two new vehicles

According to Topline Securities, The automaker stated that the prices are currently set as per the current US Dollar rate, which is hovering around Rs. 287. Car prices may witness another rise if the rupee’s value falls further.

Honda highlighted the rate of localization for each of its cars. The rate is as follows:

Model

Localization Rate

Honda City

71%

Honda Civic

61%

Honda BR-V

55%

Honda HR-V

52%

Honda also announced intentions to introduce hybrid electric cars (HEVs) in Pakistan in the future. The business did not comment on the specific timeline, the models that will be launched, or whether those models will be produced locally.

Honda sold 25,726 vehicles in MY 2023, compared to 37,613 vehicles in MY 2022. Following a difficult year due to auto import limitations, the business hopes to improve these results in MY 2024.