Atlas Honda Pakistan lists new prices for vehicles following COVID-19 impact
These new prices came into effect on 5th May 2020 and will be applicable to all bookings made from April 23rd and onwards.
A notification sent by Atlas Honda Pakistan to its 35 car dealers across Pakistan lists new and increased prices for many of its vehicles.
The notice which was issued on the 4th of May attributes this price hike to an increase in foreign exchange rates and the impact of COVID-19 on the economy. These new prices came into effect on 5th May 2020 and will be applicable to all bookings made from April 23rd and onwards.
It should be noted that the car maker’s plants have been shut because of the lockdown and car sales were already on a downward trajectory before the coronavirus outbreak mainly due to a slowdown in Pakistan’s economy and the sharp rise in the price of the US Dollar. The sales of the automobile sector plunged 70% this year compared to 2019. In Honda’s case, the year-on-year decline in sales is 96%.
However, some automakers anticipate that sales will increase in the coming days due to cuts in the interest rate, as lower interest rates drive consumers to take up leases to purchase vehicles.
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