Honda raises car prices by at least Rs. 7,000 – Other companies likely to follow

The rupee fell a record 7.5 percent against the dollar on Tuesday, its effects have already started taking place as various industries in Pakistan, especially automobile industry, raise the prices of vehicles.

Honda officially announced new prices for their cars today. This will be the fifth time a major automobile company is raising prices for their vehicles.

Following Honda’s move to increase prices, other automobile companies – Suzuki, and Toyota – are also likely to follow.

Honda has added at least Rs. 7,000 price hike against all its vehicle variants. The car manufacturing company has already sent a notification to all its dealerships across the country with the new prices effective immediately.

This price increase will also affect people who have already booked a Honda vehicle and are anticipating to receive their car in the next couple of months. It is clearly mentioned in the contract of Honda with its customers that any price hike during the booking and delivery phase will be added to the order.

In simple words, when you receive your car from Honda and are expected to pay the full amount, you will be asked to pay the additional price.