Lastly, the stand-by is over as Honda Atlas has, at last, declared the overhauled costs of its cars. The declaration comes after the new Auto Policy (2021-2022). These are Ex-Factor costs. The new costs of the Honda Civic and BR-V as follows.
- 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.
- 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 up to 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 delays 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