Honda Atlas postpones its intention to introduce the HR-V in Pakistan

 Atlas Honda Cars According to an official with knowledge of the development, Pakistan has postponed its plans to introduce the locally assembled Vezel (HR-V).

Under the condition of anonymity, the official said that the company has previously tested and assessed the viability of the Honda Vezel in Pakistan.

 

The business has since changed its mind, which is a development that comes as the auto industry continues to suffer from import restrictions.

Mashood Khan, an expert in the auto industry, agreed and stated that it is now impossible to do a feasibility study for the introduction of a new vehicle in Pakistan since "no firm can introduce a vehicle under the current conditions."

 

The import of completely knocked down (CKD) and completely built-up (CBU) units has been restricted by the government, according to Khan, a former chairman of the Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM), which has made it challenging for manufacturers to produce the current models.

According to Khan, the market shouldn't anticipate the introduction of new cars unless the nation's foreign exchange reserves increase.

 

As policymakers looked for methods to stop the rupee's collapse, Pakistan took action to impose import restrictions, particularly on goods from the car industry. The currency was under intense pressure as a result of diminishing foreign exchange reserves in July, which led the administration to impose import shipment restrictions.

 

The rupee once more came perilously close to hitting an all-time low in September, although a brief reprieve occurred in the last four trading sessions. The rupee has gained a total of Rs7.59, or 3.3%, in the interbank market since Friday (September 23).

"The phenomena of the appreciation seems to be transitory. We are hopeful that the government will act decisively to support and stabilize the economy and, in turn, the local currency," Khan continued.

 

Business Recorder has already claimed that Honda Atlas was getting ready to introduce the HR-V. An executive at the time stated that the business might introduce a petrol version in Pakistan.

 

Due to supply issues, Honda will reduce car production in Japan by up to 40%.

 

According to a survey conducted earlier this year by a car manufacturer, the market share of the SUV class has increased from 5% to 20% in three years despite price increases as automobile companies debuted several new models.