Honda Siel hikes car prices by up to Rs3.5 lakh
10 Mar 2009
Honda Siel Cars India, the Indian arm of the Japanese auto giant Honda Motor Co, has increased the prices across all its models between Rs30,000 and Rs 3,54,000 effective 1 April.
The Honda CR-V, which is a fully imported unit, will cost Rs3,54,000 more from 1 April while the other models like City, Civic and CR-V will also be costilier.
However, for the Accord model, the revised prices will be effective from 16 March, the company said in a release. The Accord and the CR-V are imported.
The CR-V will cost Rs23.44 lakh after the price hike.
The City 1.5 E MT will now cost Rs 30,000 more at Rs 781,000, ex-showroom Delhi.
The Accord 2.4MT will cost Rs1 lakh more at Rs 17.72 lakh and the Civic 1.8 E MT Rs50,100 more at Rs10.5 lakh.
The increase has been necessitated by considerable depreciation of the rupee and strong Japanese yen against the dollar, the company said in its statement.
''The rupee has depreciated by over 16 per cent vs the dollar in the past eight months. On the other hand, the Japanese yen has strengthened by 10.5 per cent during this period. These currency fluctuations have resulted in tremendous increase in cost of imports impacting the bottom lines, but so far, we have refrained from passing them on to the customer. But it is not possible to absorb the impact any more,'' said Jnaneswar Sen, vice president, marketing.
