Islamabad: Honda Atlas Cars (HCAR) is set to launch a new hybrid electric vehicle (HEV) variant of the HR-V, aiming to capitalize on favorable market conditions and government incentives for hybrids. The company anticipates this move will help restore its sales to the levels seen in 2022.

According to JS Global, during its recent analyst briefing, HCAR discussed its financial performance and future outlook. The company highlighted a significant year-over-year increase in earnings per share (EPS) for the fiscal year 2024, attributed largely to the stabilization of the Pakistani Rupee and advantageous tax conditions. However, it noted a substantial quarter-over-quarter decline in EPS for the first quarter of fiscal year 2025.

Management remains optimistic about the future, projecting a recovery in vehicle sales to over 25,000 units by 2026, which would match sales figures from 2022. This expectation is based on anticipated improvements in macroeconomic conditions and consumer purchasing power, driven by lower interest rates. The planned launch of the HEV HR-V is part of Honda Atlas's strategy to engage more fully with the growing market for environmentally friendly vehicles, benefiting from reduced duties on hybrid vehicles.