• HACL predicts sales rise in MY2024, hopeful about no import restrictions.
• Car prices based on USD rate (Rs. 287), may rise if rupee depreciates.
• Honda emphasizes localization: City (71%), Civic (61%), BR-V (55%), HR-V (52%).

Honda Hybrid Cars in Pakistan: Honda Atlas Cars Limited (HACL) is optimistic about a sales boost in the upcoming period, projecting higher figures compared to the previous Market Year (MY2023).

During a recent corporate briefing, HACL revealed that banks are extending Letters of Credit (LCs) to the auto industry, indicating a positive trend. The company expects sales to rise in MY2024, but this is subject to the government not imposing restrictions on automotive imports again.

Topline Securities reported that Honda Atlas Cars Limited has currently set its car prices based on the prevailing US Dollar exchange rate, which stands at approximately Rs. 287. However, there is a possibility of car prices increasing if the value of the rupee continues to depreciate.

Moreover, Honda also emphasized the localization rate for each of its cars, providing insight into its efforts to increase local manufacturing and reduce reliance on imports.

Honda has expressed its intentions to introduce hybrid electric vehicles (HEVs) in Pakistan in the upcoming period. However, the company has not provided specific details regarding the exact timeline, the models that will be launched, or whether these models will be locally assembled.

In the Market Year (MY) 2023, Honda’s car sales amounted to 25,726 units, a decrease compared to the 37,613 cars sold in MY 2022. This decline was attributed to the challenges posed by automotive import restrictions. Nonetheless, the company is determined to enhance its sales figures and aims for improved performance in MY 2024.

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