Honda Reduces Its Car Prices After Auto Policy Announced

The Federal government has announced New Auto Policy 2021-26 on 7th July 2021. Addressing a press conference, Federal Minister for Industries and Production Khusro Bakhtiar shared the details of new policy. According to 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

Honda Cars Price Reduction

After announcement of new Auto Policy 2021-26, the Honda has finally announced the reduction of prices of its cars like other automakers. The company has announced the new prices of its cars like Honda Civic and Honda BR-V. It is pertinent to mention here that hese are Ex-Factor prices.

Honda Civic New Price

The Honda has reduced the price of Honda Civic 1.5 RS Turbo by Rs135,000, the new price of Honda Civic is Rs4,564,000 from previous rate of Rs4,699,000.
Secondly, the company has also decreased the price of Civic 1.8 i-VTEC CVT by Rs115,000. The previous price of the car was Rs 3,729,000, 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

After the announcement of Auto Policy 2021-26, the Honda has decreased the price of BR-V i-VTEC S A/Tis by Rs105,000. The new price of this variant is Rs3,374,000 against its old rate of Rs3,479,000.

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