Honda Cars India have announced a price hike across its entire portfolio from January next year; however, the exact price increase has not been revealed by the Japanese automaker.
Besides Honda, recently, some Indian big auto manufacturers have also announced that there will be a price hike across all the products as part of the cyclical price revision which takes place every year. Hyundai stated that it will increase all the vehicles’ prices by Rs 30,000; Toyota will impose a 4% price increase on all of its models; Tata Motors will raise the prices of its passenger vehicles by Rs 40,000 next month.
Commenting on the price hike, Rajesh Goel, Senior Vice President- Honda Cars India, stated
"Our input costs are up by 4 per cent 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’’.
Honda Cars India will increase the price across all of its Indian lineup from next month
Honda Cars India has not figured out the exact price hike yet, which would require careful consideration to come up with a comprehensive decision. Factors to be considered include internal economic ones like input cost increase and interest rates as well as external ones like the taxes on CKD units and forex rates.
Currently, Honda sells seven car models in India, including, 2018 Honda CR-V, 2018 Honda Amaze, 2018 Honda City, 2018 Honda Jazz, Accord Hybrid, Honda Brio and Honda BR-V. The company is preparing to launch the facelifted Honda Civic in early 2019, which will coincide with the price hike of other models.
The facelifted Honda Civic is going to be launched earlier next year
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