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The Indian wing of the Japanese automaker Honda has announced that it will increase the prices of its entire product portfolio. Honda will hike the prices of its models in the range of Rs 10,000 to Rs 35,000. The revised price will be effective from August 1, 2018.
Honda has decided to hike the prices of its cars due to the increase in custom duty and rising input and freight costs. Honda will also increase the prices of the recently launched new Amaze. The company had stated that the Honda Amaze carries an introductory price tag and will be revised from August 1, 2018.
Previously, Honda had increased the prices across the model range by two percent from June 2018. Now, the company has once again hiked the prices to offset the increase in customs duty and rise in input and freight costs. It was expected as Honda had suggested a price hike in August during the launch of the new Amaze.
Currently, Honda offers models ranging from Brio and Jazz hatchback, Amaze, City and Accord Hybrid sedan, WR-V compact SUV, BR-V crossover and the CR-V SUV. The prices for the Honda line up starts from Rs 4.73 lakh and goes all the way up to Rs 43.21 lakh ex-showroom (Delhi).
Apart from the recently launched new Amaze, Honda plans to launch two new products in the Indian market. The two new products are the new CR-V and the new Civic sedan. Honda aims to double its shares in the country with new investments and new products.
Rajesh Goel, Senior Vice President, Sales and Marketing, Honda Cars India said, "Due to the increasing pressure on input costs, impact of custom duty hike over past few months and higher freight rates, we are forced to consider increasing the prices of our cars. The increased price will be effective from 1 August 2018."
Thoughts On The Honda Price Hike
Honda has decided to hike the prices of its cars from August 2018 due to the increase in custom duty. Many luxury carmakers such as Audi, Mercedes-Benz and Jaguar Land Rover had increased the prices in April 2018 due to the custom duty hike. We can expect more automakers to follow the same in the coming days.