Cars get costlier amid uncertain delivery dates:
Cars get costlier amid uncertain delivery dates
Honda Atlas Cars Ltd (HACL) raised the prices of many models by Rs260,000-550,000 on Monday, the second time in less than two weeks due to a shaky scenario with car deliveries.
HACL hiked the cost by Rs300,000 to Rs550,000 approximately a month ago due to the rupee’s devaluation, the precarious status of the economy, and severe inflation.
Due to a halt in bookings, plant closures, and issues with component availability, dealers of various assemblers propose a varying timeframe for automotive delivery.
while others attract consumers with price-lock offers and speedy delivery alternatives with price rise warnings.
Although no delivery dates have been set, bookings for a number of models have been kept open.
For Example, Certain City models will be available in February and others in April, while the Honda BR-V will be available immediately.
There are no delivery dates available for the Honda Civic and HR-V models.
Several customers were compelled to request refunds for fees paid at the time of booking after some back orders that were initially scheduled to arrive in November 2022 were rescheduled for June or July of this year.
According to an unnamed dealer:
It is unlawful for local assemblers to accept reservations despite their inability to deliver the vehicles on time.
If prices are raised owing to higher expenses, all customers will be obliged to pay more.
If a booking is to proceed, a clear policy on price-lock and delivery commitment should be in place, he noted.
According to a Toyota dealer:
Bookings are presently on hold due to a major manufacturing outage from February 1-14.
While the Revo and Rocco automobiles were available in a month.
The company had stated that delivery timelines for other vehicles will begin in July.
He stated:
Due to the State Bank of Pakistan’s limits on vehicle finance:
The number of customers interested in placing a reservation at our dealership has dropped by 60-70% since January.
According to some Hyundai Nishat dealers:
The company provides a one-month warranty on a variety of models in return for full customer payment.
As of January 1, 2019, vehicle registration savings were no longer available.
According to a Suzuki dealer:
The booking has been closed since last month.
For a limited time, Kia car dealers are offering price-lock arrangements with the caveat that price rises might come at any time.
The company is taking bookings, and delivery will take place this month if full payment is received.
Farhan Mahmood of Sherman Securities anticipates a 44 percent month-over-month fall in car sales to 9,100 units in January, after a 74 percent MoM decline in Pak Suzuki sales due to a manufacturing shutdown.
He expected Indus Motor Company and HACL to increase their sales by 24 and 30%, respectively, to 3,500 and 2,700 units.
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Pavan Manzoor is an experienced content writer , editor and social media handler along with a track record of youth-oriented activities in Pakistan and abroad. She was selected as a fully-funded delegate as a leadership fellow in Turkey. She also led a team of 5 volunteers at the week-long Young Professionals Fellowship in Maldives. She is also a member of the Youth Standing Committee on Higher Education.
