Too much stock: Honda CR-Z’s price slashed by Rs1 million

Company rep says this is not a price cut as Honda will revert to the CR-Z’s old price tag once the existing stock ends

KARACHI:

After a lacklustre response from the market, Honda Atlas – the Pakistan franchise of Honda Japan – slashed the price of its CR-Z model by up to Rs1 million. The CR-Z, introduced in Pakistan last year, ranged from Rs3,269,000 to Rs3,500,000, but a poor response has apparently prompted the move to cut price.

Labelled a “promotional campaign”, the CR-Z model is now priced at Rs2,419,000 and Rs2,499,000 for the two variants.  “We have introduced a promotional campaign for the CR-Z for our existing stock,” said a spokesperson of Honda Atlas Cars. “To maintain quality standards, the company wants to sell these ready-to-sell units as early as possible.”

The spokesperson added that this is not a price cut as the company will revert to the CR-Z’s old price tag once the existing stock ends.

The price cut follows that of Wagon R’s – Pak Suzuki’s model – that had seen a price cut of up to Rs90,000 after recording poor sales since its launch in the country. 

Published in The Express Tribune, January 11^th, 2015.

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