LAHORE - Honda Atlas Cars (Pakistan) Limited has launched its Honda City new model for 2009 at a ceremony in local hotel on Saturday. The aero-dynamic shape and advanced styling of the new Honda City has a lot to offer. The new shape is designed on the concept of Arrow Shot Form, The new 1.3L i-VTEC engine with DBW (Drive by Wire) offers outstanding performance and fuel economy, Active Safety with ABS (Anti-Lock Braking System) and a class leading spacious interior makes the all new City even more appealing for the automobile buyers in Pakistan. Speaking on the occasion Yusuf H Shirazi, the chairman Honda Atlas Cars, thanked all the stakeholders for where the company stands today. He informed the seminar that Honda Atlas Cars contributed Rs 4.9 billion to government exchequer last year out of its total turnover of Rs 15 billion, translating into about 2 per cent of the total government revenues. Honda Atlas Cars has paid Rs 40.65 billion to government exchequer, to date, since its inception. Since 1994 we paid Rs 1257 million as dividend to our share holders. We have been reinvesting our earnings. During 07-08 we invested Rs 3.5 billion on capacity expansion alone. We are an employer with a class remuneration structure. We started with 308 associates in 1994 with total annual wages of Rs 28.3 million per annum increasing to 973 associates this year with a total annual wages of Rs 330 million. Since 1993 we paid Rs. 2.2 billion as salaries and wages. We have produced and sold more than 152,000 units till to date. Speaking on the occasion Mr. Atsushi Yamazaki, President & CEO Honda Atlas Cars (Pakistan) Limited said the launch of the new City marks a very important day of Honda's history in Pakistan. He said that Honda City made its debut in 1996 to meet the requirements of Honda customers in Asia, and as a result was introduced in Pakistan in 1997. Over the last 10 years The City has grown to be an important model sold in 39 countries reaching beyond the Asian Region. I feel proud to share with you that the cumulative sales of CITY recently passed the one million unit mark. He further added that the all-new City has been designed to break through the existing concept for sedans. It has always been Honda's goal to create new value for our customers... to achieve a level of joy and satisfaction beyond customer's expectations. The New City is the latest testimony of this approach, a car developed with a no compromise spirit. The design concept and advancements of technologies employed in the all new City reflect the philosophy of Honda. As a result, we believe the all-new City sets an absolute new benchmark for the sedans to come. Also attending the launch ceremony was Mr. Keiichi Ooka, Chief Engineer Honda R&D and Assistant Large Project Leader for the new City. Mr. Ooka gave an overview of the design concept of the All the New City which is based on the Arrow Shot Form.