Wait is Over, Honda Reduced Car Prices
And finally the wait is over as Honda Atlas has finally announced the revised prices of its cars. The announcement comes after new Auto Policy (2021-2022). These are Ex-Factor prices. The new prices of Honda Civic and BR-V as follows.
Honda Civic:
The price of Honda Civic 1.5 RS Turbo is decreased by Rs135,000, taking the price down to Rs4,564,000 from previous rate of Rs4,699,000.
The second one, Civic 1.8 i-VTEC CVT‘s price is reduced by Rs115,000. The old rate of this car was Rs3,729,000, while the new price is Rs3,614,000. Finally, the price of Civic Oriel 1.8 i-VTEC CVT is decreased by Rs115,000, taking it to Rs3,864,300 against the previous rate Rs3,979,000.
Honda BR-V:
Finally, the rate of BR-V i-VTEC S A/T is reduced by Rs105,000. The new price of this variant is Rs3,374,000 against its old rate of Rs3,479,000.
On July 7th, the federal government announced Auto Policy. Addressing a press conference, Federal Minister for Industries and Production, Khusro Bakhtiar shared the details of new policy. As per the minister, important points of the new policy are:
Decrease in Car Prices:
- New Car Prices will be implemented in next 1-2 days
- Prices of cars upto 850cc will reduce between Rs104,458 – Rs142,388
- Prices of cars between 1001cc–1500cc will decrease between Rs112,118 – Rs186,375
- Rs169,958 will be decreased for the 1800 cc category, and Rs229,458 for 2000cc cars.
- Additional Customs Duty (ACD) is reduced from 7% to 2% on CKD units for cars above 1000cc. Meanwhile, the ACD for cars upto 1000cc will be 0%
Steps Against ‘ON Money’ Culture
- Rs50,000 to Rs200,000 Withholding tax will be applied if the first registration is not in the name of the person who booked the vehicle
- If the car manufacturer delay the car for over 60 days (2 months), the company will pay KIBOR + 3%
- Maximum upfront payment on car booking not to exceed 20% of the invoice value