Monday, July 05, 2021
By Kamal Swami
Buying A Honda Car To Get Expensive From August 2021
With most of the car manufacturers going to hike the prices of their entire range from July 2021, Honda Cars India Limited has also decided to hike the prices of its portfolio from August 2021. According to reports commenting on the reason for hiking the prices, the Indian alliance of Japanese car maker said due to the increasing cost of raw materials like steel and other items it has become imperative to hike the prices. The company has however not revealed the exact percentage of the hike which will be effective on different models.
According to Mr Rajesh Goel, Senior VP and Director, Marketing and Sales, Honda Cars India, "The prices for raw materials like steel, aluminium and precious metals have increased sharply and many of them are at an all-time high, impacting our input costs significantly." Moving ahead he also added that at present the company is calculating the percentage that would be suitable for the price hike. In his words, "Our endeavour is to keep the cost of acquisition lower, so we are currently deliberating on how much of the additional cost we can absorb and how much will be inevitable to be passed on to our customers. The revised prices will be implemented from next month,"
It would be for the third time that the company will hike the prices of its products. Before the company had hiked the prices in January and April 2021 on the same basis.
