Monday, December 17, 2018
By Kamal Swami
Honda To Hike The Prices Of Its Cars From January 2019
Following the practice of reviewing the prices to cope with the pressure of increasing cost of output adopted by the car manufacturers, Honda Cars India Limited, the Indian alliance of Japanese car maker Honda Motors is going to hike the prices of its entire portfolio from January 2019. With this the car maker has joined the bandwagon of car manufacturers Maruti Suzuki India Limited, Ford, Renualt, Tata Motors, Nissan, BMW, Toyota and others. As far as the percentage of price hike is concerned the Japanese carmaker has not revealed any information regarding this.
The list of Honda Cars in India includes Accord Hybrid, Amaze, Brio 2018, BR-V, CR-V, City, CR-V 2018, and Jazz 2018. It is reported that the car maker has generation next City sedan in the pipeline for launch during the month of January 2019 and it is believed that the decision of price hike will equally impact its pricing strategy too.
Commenting on the announcement of an increase in prices of the portfolio, Mr. Rajesh Goel, Senior, Vice-President, HCIL, said, "Our input costs are up by 4 percent already due to rise in input costs. In order to offset the impact, we are looking to increase vehicle prices from January. We are currently in the process of working out the exact quantum of the hike." It would be now interesting to know that before hiking the prices, the carmaker will have to take into account different factors like tax policy on vehicles brought through CKD routes, especially the CR-V and generation next Civic, that are sold in the Indian car market after assembling 30% of their components from Japan.
