Honda to hike car prices by up to 2% from April

 First Published: Wed, Mar 13 2013. 07 37 PM IST

 

 

Honda’s car plant at Surajpur in Uttar Pradesh. Photo: Ramesh Pathania/Mint

 

New Delhi: Honda Cars India Ltd. (HCIL) will increase prices of its vehicles across models by up to 2% from April to offset cost of OBD (on-board diagnostics) compliance and freight increase.

“We we are increasing car prices from 1 April 2013 by an amount of up to 2%. The details are still being worked out,” a company official said.

The increase in prices will be primarily on account of OBD compliance effective from 1 April 2013 and freight increase, the official added.

At present the company sells hatchbacks Brio and Jazz, sedans City, Civic, Accord and sports utility vehicle CR-V with price ranging from Rs4.1 lakh to Rs27.38 lakh (ex-showroom Delhi) across the models.

The price hike comes at a time when the company witnessing a decline sales in a tough market. HCIL had reported 26.49% decrease in its domestic sales for February 2013 at 6,510 units as against 8,856 units in the same month last year.

HCIL is slated to introduce its much-awaited entry-level sedan Amaze in April, which will be the company’s first diesel offering in India

ADITYA KUMAR SINGH

PGDM 2 SEM