- Price hike to range from Rs 7,000 to Rs 10,000
- Effective from 1 February 2019
- Result of rise in input costs
Honda Cars India has announced its plan to hike the prices of its vehicles from February 2019.
The car manufacturer is all set to increase prices by up to Rs 10,000, and has attributed this hike to the rise in commodity prices and foreign exchange rates. Honda also added that while the price increase on the CR-V will be Rs 10,000, other Honda models will see a price hike of up to Rs 7,000.
Honda essentially joins a number of other car makers such as Maruti Suzuki, Renault, Isuzu, Tata Motors, Nissan and Ford, who recently cited similar reasons for hiking prices of its line-up. Rajesh Goel, Senior VP and Director- Sales, Honda Cars India, said, “There has been a huge pressure on costs owing to commodity prices and foreign exchange rates and we had been trying to withold this increase for quite some time. However, we are now compelled to pass on a part of the increased costs to customers effective Feb 1.”
The model-wise revision in prices will only be available in February, so stay tuned until then.
