Honda has announced that it will hike the prices of its vehicles across its portfolio in India by up to Rs 16,000 from January to offset impact of rising input costs.
PTI reported on Wednesday about the development as Honda Cars senior vice-president (Marketing and Sales) Jnaneswar Sen told the agency, "We will hike prices in the range of Rs 10,000-16,000 from January, depending on the model. The price increase has been necessitated on account of increase in input costs."
The announcement comes in after various car makers like Tata Motors, Maruti Suzuki India, General Motors, Hyundai Motor India, Toyota and German luxury car makers Mercedes Benz and BMW have already pronounced a hike in prices of their vehicles across models from January to offset input costs.
Elsewhere, other automakers like Nissan, Renault and Skoda have also announced plans to hike prices by up to Rs 50,000 from January next year to partially offset the impact of higher input costs.
Experts believe that carmakers usually come up with such announcements around this time of the year that help them clear inventories left after heavy festive discounts on vehicles.
Currently, HCIL sells a range of vehicles starting from the entry-level small car Brio to the CR-V, with price ranging between Rs 4.25 lakh and Rs 25.13 lakh (all prices ex-showroom Delhi). Apart from the two extremes, the Japanese carmaker's current line-up in India comprises Amaze, Jazz, City and Mobilio CR-V. With the dawn of the new year upon us, Honda is expected to roll out the BR-V compact SUV, Honda Accord and Honda Civic in 2016.
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