Honda Cars to hike prices across its models by up to Rs 10,000 in April
Honda Cars India will increase the prices of all its models form next month. The company will increase the price of its cars by up to Rs 10,000 across its models, according to a Bloomberg report.
This will see the prices of its vehicles significantly increase. The increase in the prices could be due to the increasing raw material prices and also the adoption of Bharat Stage IV emission norms for its cars.
The last hike in prices taken by Honda Cars was taken in January 2017 when it increased prices by 3% across its models due to increasing pressure on input costs and fluctuating exchange rates.
The Japanese automaker, which has been shipping some of its models to the overseas market, also announced that it would introduce its latest product WR-V in Brazil.
The company, which launched the upgraded Sedan City last month would also bring its premium sedan "Civic" later this year, Honda Cars India, Senior VP, Jnaneswar Sen said.
"Already, we are exporting few of our existing models to neighbouring countries. This product (WR-V) may be exported to Brazil..," he told reporters.
To a query on the launch of other models in India, Sen said, the company would bring in its premium sedan 'Civic' which was earlier suspended from production.
"Earlier, when we introduced the (premium sedan) Civic, we were selling about 2,000 units a month. Now, the volume of premium sedan market itself is only 2,000 units," he said.
Responding to the launch of upgraded City last month, Sen said the company received 15,000 bookings of which 40% comprised of the top end "ZX"variant.
Talking about the launch of WR-V, he said so far it has received 3,000 bookings.
On expansion plans, Sen said the company would increase its dealership network to 370 outlets from the present 336 units with more focus on Tier II and III cities in 2017-18.
Sen and senior company officials were here to launch the latest "WR-V" priced at Rs 7.90 lakh (ex-showroom Chennai) for base model petrol variant while top end diesel variant is priced at Rs 10.15 lakh (ex-showroom Chennai).
(With inputs from PTI)