Latest News, Buying & Selling Guides for New and Used Cars

Analyzing the development of the Honda Elevate price in Pakistan, it is crucial to state that this model has only recently entered the Pakistani market. Although Honda Atlas Cars Ltd (HACL) does not currently mention the Elevate as one of its major locally assembled (CKD) models, independent sources, such as SpotMv, do include the Honda Elevate Price in Pakistan.

Monitoring the dynamics of price changes provides insight into local import processes, the impact of tax policy, and market acceptance.

Initial Launch Price

SpotMV records that the Honda Elevate 2023 costs PKR 4,126,520.  This value is likely the pricing for imports, as there is currently no indication that the Elevate is being assembled in Pakistan by Honda Atlas.

In India, where the initial presentation of Elevate took place, the prices were significantly lower in local currency, which reminds us that the Pakistani honda elevate price includes importation taxes, freight, and currency depreciation. 

Subsequent Price Adjustments

The price of the Elevate that is reported in Pakistan has fluctuated over time. The war brought about some significant changes, among them:

2024 Price

• SpotMv hopes that the price of the 2024 Elevate will be approximately PKR 4,111,990. 

• The same source sells another version of the 2024 Elevate at PKR 3,923,100. 

• The minor difference between these reported prices in 2024 can be attributed to various trim levels, automatic versus manual transmission, or simply a quote discrepancy between different dealers.

2025 Price

• According to SpotMv (2025), the Elevate will be priced higher in 2025 at PKR 5,400,000 (approximately USD 20,000). In another similar progress, there exists a Black Edition (2025) of the Elevate priced at PKR 5,065,700. 

• The reminiscences of these changes display a significant rise in the price between the earlier 2023 launch and new editions.

Possible Reasons for the Price Increase

The price increment of the Honda Elevate in Pakistan could have been a result of several causes:

Import Costs and Currency Depreciation

The model will be subject to import taxes, transportation, and other expenses since the Elevate does not seem to be assembled locally. Since the Pakistani rupee has been under pressure in the past few years ,the cost of imports increases, and this is transferred to the consumers.

Regulatory and Tax Changes

Honda also increased the prices of some of its models in Pakistan in July 2025, with a new levy on NEV (New Energy Vehicle) being one of the reasons cited. 

The Elevate is not explicitly reflected in the official price list of Honda (through Honda Atlas) but this wider adjustment in price by Honda is likely to have an impact on imported models as well, either directly or indirectly through adjustments by dealers.

Trim Upgrades and New Editions

The average price is also increased by the introduction of special or more special versions, including the 2025 Black Edition. Premiums are typically charged for higher-spec models, additional features, or limited editions.

These editions could maybe the reason behind some of the jump between the PKR 4.1 million to more than PKR 5 million.

Supply-Chain Constraints

The world automotive supply chains have been experiencing pressure due to logistical issues, semiconductor delays, and increased freight prices. These pressures have the effect of raising the landed cost of imported automobiles such as the Elevate.

Market Implications

The increase in the price of Honda Elevate in Pakistan has the following repercussions:

• Demand Pressure: As the honda elevate price is very high (above the cost of around PKR 4.1M to above the cost of around PKR 5.4M in case of later models), the potential buyers might re-examine the value of imported Elevate against other competing SUVs. The premium may be discouraged unless there is a compelling reason to pay it, such as the inclusion of desirable features or exclusivity.

• Resale Value: Since newer models cost more, the price appreciation would be beneficial to existing owners who acquired them early (2023 or 2024), as they intend to resell the models.

• Dealer Margins and Inventory: Dealers can benefit from a larger break between the previous stock (imported at a low cost) and the new pricing. Nevertheless, the increased prices of fresh inventory may make it too risky to hold excessive stock.

• Brand Positioning: Honda concluded that it will continue importing the Elevate despite the cost pressure, implying that it believes there will be a group of buyers willing to spend on a mid-size SUV with brand strength. However, the increasing prices may threaten its competitiveness.

Risks and Uncertainties

Although there is an upward trend, there are risks:

• Currency Fluctuations: If the rupee continues to depreciate, the cost of imports will increase further, potentially leading to additional price increases.

• Tax Regime: Future fluctuations in government taxes will also increase prices (such as the NEV levy).

• Consumer Sensitivity: Pakistani customers are generally price sensitive. Such a significant price difference will likely lead some customers to shift to lower-priced, locally assembled SUVs.

• Weak Domestic Support: Due to the importation of the Elevate, servicing, parts, and spares may be more expensive or less readily available compared to local models, which can impact long-term ownership costs.

Conclusion

It is evident that the price of the Honda Elevate car in Pakistan has been increasing since its introduction. Its retail price initially ranges from PKR 4.13 million in 2023. Various sources indicate that the price of this vehicle might go down to PKR 3.92 million in 2024 on certain models and then extremely high in 2025, reaching PKR 5.4 million in premium or limited editions.

This trend is mainly caused by the pressure of import costs, exchange rates, new government charges, and the emergence of superior spec trims. Although the price increase might put some pressure on the demand, it also points at Honda having confidence in the positioning of the Elevate as the value-imported SUV in the Pakistani market.