Autos, cement, steel turn costlier – Business

KARACHI: Honda Atlas Cars Ltd (HACL) on Friday increased the price of vehicles by Rs260,000-Rs550,000 while Pak Suzuki Motor Company Ltd (PSMCL) extended its plant shutdown for two days.

Besides, bike assemblers also announced price hikes while steel bar markers continued coming out with new rates.

After a third price hike by Honda Atlas in the current year, the new prices of Honda Civic 1.5L Turbo, Oriel 1.5L Turbo and Civic RS 1.5L Turbo have been fixed at Rs7.779 million, Rs8.099m and Rs9.199m up by Rs480,000-550,000.

City 1.3MT, 1.2 CVT, 1.5CVT, 1.5 Aspire MT and 1.5 Aspire CVT now carry new prices of Rs4.579m, Rs4.729m, Rs5.019m, Rs5.229m and Rs5.419m showing a jump of Rs250,000-300,000.

After an increase of Rs300,000-400,000, the new price of Honda BR-V 1.5 CVT 5, HR-V VTI and HR- VTI S is Rs5.949m, Rs7.199m and Rs7.399m. HACL attributed price hikes to rupee devaluation, volatile business situation and increase in sales tax.

Pak Suzuki has extended its plant shutdown from Feb 20-21 due to a continued shortage of parts. However, the motorcycle plant would remain operative.

United Auto Industries, the country’s second-largest bike assembler, has raised the prices of 70cc-125cc bikes by Rs9,000-11,000 effective from Feb 16 due to an increase in GST, rising raw material prices and uncertain rupee-dollar parity.

By taking the same reason, Road Prince Motorcycle and Rickshaws has announced a price hike of Rs9,000-30,000 for 70cc-150cc engine capacity vehicles.

Amreli Steels Ltd raised the price of steel bar (9.5-10mm to 12mm) and (16mm and above) to Rs307,500 and Rs305,500 from Rs303,500 and Rs301,500 respectively due to GST and gas tariff hikes.

The new rate of steel bars produced by Faizan

Steel is Rs306,500 for 10-12mm and Rs304,500 for 16mm-25mm.

Published in Dawn, February 18th, 2023


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