Honda Siel Cars India announces price hike across all models

March 9, 2009 New Delhi

New Delhi, March 9: Honda Siel Cars India, leading manufacturer of premium cars in India, today announced an increase in the price of all its production models by Rs 30,000 to 101,000 . The price of Honda CR-V which is a fully imported unit will be increased by Rs 3,54,000 . The revised prices for City, Civic and CR-V will be effective from April 1, 2009 and for Accord from March 16, 2009.

 

The increase, necessitated by considerable depreciation of Indian Rupee and strong Japanese Yen against Dollar, is in the range of 4% to 20% on the current price.

 

Commenting on the price increase, Mr Jnaneswar Sen, Vice President, Marketing, said, “The rupee has depreciated by over 16% vs USD in the past 8 months. On the other hand, the Japanese Yen has strengthened by 10.5% 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.”

 

The new prices, ex-showroom Delhi are as follows:

 

Production Model

 Price Change Summary   Ex-showroom Delhi Price (in Rs.)    
  Model     Current   New   Difference   W.E.F
  CITY   1.5 E MT   751,000   781,000   30,000   1st April 09
  1.5 S MT   799,900   832,000   32,100
  1.5 S AT   869,000   904,000   35,000
  CIVIC   1.8 E MT   999,900   1,050,000   50,100   1st April 09
  1.8 SPORT   1,206,862   1,264,862   58,000
  1.8 V MT   1,187,000   1,246,000   59,000
  1.8 V AT   1,255,000   1,318,000   63,000
  ACCORD   2.4 MT   1,672,000   1,772,000   100,000   16th Mar 09
  2.4 AT   1,746,000   1,847,000   101,000

CBU Import Model

    Ex-showroom Delhi Price (in Rs.)
  Model     Current   New   Difference   W.E.F
 CR-V   2.0 MT   1,770,000   2,124,000   354,000  1st April 09
  2.4 MT   1,920,000   2,274,000   354,000
  2.4 AT   1,990,000   2,344,000   354,000