Price of Honda Cars in India were increased across range in January 2015, citing expiration of reduced excise duty cuts and rising input costs. Now, about a little over two months into first price hike, the company has planned a second price hike for 2015.
New price hike of Honda Cars in India will be effective from 1st April 2015. This time as well the company says the reason behind hike is rising input costs. Prices will be increased across range by a few thousand rupees though exact price increase was not declared.
This second price increase this year due to higher input costs has been divulged by Jnaneswar Sen, Senior Vice President, Marketing & Sales at Honda Cars India Ltd. Earlier this year the company faced pressure due to Government making adjustments in duty structure. In the Union Budget, excise duty was increased to 12.5% from 12% which caused an increase in prices.
Just ahead of the end of this financial year, Honda Cars India has reported sales figures of over 1.8 lakh units and a growth of 44% over the same period last year, when the company sold a total of 1.15 lakh units. February 2015 sales saw Honda Amaze continued to see strong response with a total of 7,163 units sold, while 6,505 units of Honda City, 1,697 units of Mobilio, 1,397 units of Brio and 140 units of Honda CR-V were also sold in the month.
The next launch from the company will be new Jazz hatchback. It will be launched by June 2015, and will compete with the likes of Volkswagen Polo and Hyundai i20.
PS- The prices mentioned in the images, are the current prices, post January 2015 hike.
via Economic Times