The prospective buyers and fans of the Honda vehicles will have to shell out more money this year, as there have been consecutive price hikes in a matter of just three months’ time. Honda Cars India is again getting ready to increase the prices of its entire product by up to Rs. 6,000 starting from April 2016 in order to offset the impact of the adverse exchange rate which in turn is resulting into higher input costs.
Honda Cars India had just hiked up its car prices earlier this month by up to Rs. 79,000 in order to align the prices owing to the imposed higher cess announced in the latest Union Budget for the 2016-17 financial year, which made most of the car makers increase the prices of their products.
At present, Honda Cars India offers 6 car models for sale in the car market of India. The car range in Indian from the stable of Honda Motor starts from its entry level compact hatchback model Brio that has a starting price range of Rs. 4.31 lakhs and ends in the flagship SUV model CR-V that is tagged starting at Rs. 26 lakhs (ex-showroom, New Delhi).
While revealing the latest price hike, a Honda Cars India spokesperson said that the company is planning to increase the prices of its whole product portfolio starting from the first week of the next month in order to partially offset the impact of the unfavorable exchange rate which is causing increased input costs.
The Honda Cars India has however, yet not finalized the percentage of the price hike in its individual vehicle models. Nevertheless, it is expected that the Japanese car major will be increasing its price range by around Rs. 6000 onwards for its cars depending on the model.
In the most recent price hike, post the Union Budget the Japanese company had increased the price range of its entry level car Honda Brio from Rs. 4,000 to Rs 6,000, its premium hatchback model Honda Jazz in the range of between Rs. 5,000 and Rs. 19,500 and mid-sized premium sedan the Honda City in the range of Rs. 24,600 to Rs. 38,100. The company increased the prices of compact multipurpose utility vehicle Honda Mobilio in the range between Rs. 21,800 to Rs. 37,700 and hiked up the prices of its Sports Utility Vehicle, the Honda CR-V in the range of Rs. 66,500 and Rs. 79,000, depending on the various model trims.
The upcoming price hike should not be great, so the demands of the Honda car models are not expected to dampen at least on the whole, while a slight negative buying sentiment might develop in some prospective buyers. Just post the recent revival of the Indian car market in 2015 after a long slowdown, the domestic car market has not only witnessed the launch of many new cars but also a lot of price hikes.
In the mean time, Honda Cars India is also busy preparing to launch the highly awaited BR-V compact SUV.
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I have been writing content for auto blogs for quite a long time now. My passion lies in this field and I love to picture cars as well.
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