Honda Atlas Cars

Honda Atlas Cars Pakistan (Urdu: ہونڈا اٹلس) is a Pakistani automobile manufacturer which is a subsidiary of Japanese car maker Honda. Founded in 1992, as a joint venture between Honda Motor and Atlas Group, based in Lahore, Pakistan.

Not to be confused with Atlas Honda.

Honda Atlas Cars Pakistan Ltd.
TypeJoint venture
PSX: HCAR
IndustryAutomotive
Founded1992
HeadquartersLahore, Punjab, Pakistan
Key people
Hironobu Yoshimura, CEO
ProductsAutomobiles
ParentHonda (51%) Atlas Group (30%)[1]
WebsiteOfficial website

The company stock is traded on the Pakistan Stock Exchange.[2]

Honda Atlas is the authorized assembler and manufacturer of Honda vehicles in Pakistan.[3]

History

Honda Atlas was incorporated on 4 November 1992, while the joint venture agreement was signed on 5 August 1993.[4] The manufacturing plant was inaugurated 17 April 1993 and the first car rolled off the assembly line on 26 May 1994. By July 1994, six dealerships were established in Karachi, Lahore, and Islamabad.[5][3]

Major operations

2023

Honda Atlas Cars Pakistan increased the prices of its vehicles in February 2023 due to the hike in sales tax and the devaluation of the Pakistani Rupee against the US Dollar. The Finance Supplementary Bill 2023 was approved by the federal cabinet, allowing an increase in general sales tax to 18% and additional taxes on luxury items.[6] The uncertain economic situation and devaluation of local currency made it difficult for Honda Pakistan to hold the current retail selling prices, so the company passed on the impact to the market. This decision led to a decline in sales, as the company only sold 1,636 cars last month, witnessing a 39% MoM decline in sales. The unavailability of assembly kits and intermittent production shutdowns may also have contributed to the decline.[7]

Products

Sedans

SUVs & MPVs

Former Vehicles

See also

References
  1. "Honda Atlas Cars (HCAR)". 1 March 2017.
  2. Honda Atlas Cars (Pakistan) Limited on Reuters.com business website (Stock quote and company profile) Retrieved 2 May 2019
  3. "Corporate corner: Honda Atlas achieves highest sales milestone   - The Express Tribune (newspaper)". 4 January 2017. Retrieved 3 May 2019.
  4. "Honda Atlas posts Rs1.49b profit, up 143% - The Express Tribune (newspaper)". 26 January 2017. Retrieved 3 May 2019.
  5. "Car sales drop slightly". Dawn (newspaper). 11 February 2017. Retrieved 3 May 2019.
  6. "Car prices to go up in Pakistan once again as govt increases GST on 1400cc or above luxury vehicles". Daily Pakistan Global. 10 March 2023. Retrieved 13 March 2023.
  7. Shah, Faisal (17 February 2023). "Honda car prices surge on new taxes". Pkrevenue.com. Retrieved 13 March 2023.


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