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Honda has announced a third price hike for this year. The decision follows the current trend of price hikes in the automobile sector due to an increase in input costs. This new price hike will affect all vehicles under Honda's wings. However, the Japanese automobile giant has not yet disclosed the exact figures yet.
The company has said that the price hike is due to the high procurement cost of essential commodities like steel and other precious metals like Palladium and Platinum that are used in the manufacturing of vehicles.
Reflecting on this matter, Senior Vice President and Director of Marketing and Sales, Rajesh Goel said, "Our endeavour is to keep the cost of acquisition lower, so we are currently deliberating on how much of the additional cost we can absorb and how much will be inevitable to be passed on to our customers. The revised prices will be implemented from next month."
Honda cars' line up in India currently consists of just five models. The range kicks-off with the Honda Jazz premium hatchback, and at the top is the fifth-generation Honda City. In-between, there is the WR-V, the Honda Amaze sub-4-metre sedan, and the 4th generation Honda City as well.
Thoughts On Honda Cars India Price Increase
Honda once had a strong lineup of vehicles in India, with some models dominating the segment. However, Honda has since then slipped from its position and is currently facing tough competition. In such a situation, announcing a third price hike this year might not really be helpful in terms of sales.