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Honda Amaze To Cost Rs 8000 More Post Hike
The first price hike of this year was implemented in April when the prices of City, Brio and Accord models were increased.
Speaking about the price hike Janeshwar Sen, Senior VP-Marketing and sales, Honda stated, "We raised prices of the City (Rs 3,000), Brio (Rs 2,000-10 ,000) and Accord (Rs 5,000) in April and followed it up with a Rs 3,000-8 ,000 increase in Amaze prices and Rs 6,000-14 ,000 hike in CRV prices effective June 1." He continued, "So we're not looking at another round of price increases just yet." He said that short-term volatility s covered by forward contracts. And only very few car makers have big ticket dollar imports. Like Honda only imports a few parts for the Accord from the US."
"Our larger imports are either from Japan or from Thailand and if the yen and the baht also depreciate vis-a-vis the dollar, the rupee movement will be neutralized," he commented.
Honda has received an extremely good response to the Amaze, which accounted for 53 percent of company's sales, by selling 6036 units in May. Having said that, Amaze still trails behind segment leader Maruti Suzuki Swift DZire. With the entry of Mahindra Verito Vibe into the scene the competition has now intensified.
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