HSCI Revises Prices Across All Production Models

January 5, 2007 HSCI

Honda Siel Cars India, leading manufacturer of premium cars in India, has announced a price revision on two of its models the Honda City and Civic effective January 6, 2007.

The increase, necessitated by increasing input costs and other inflationary pressures, is in the range of 1 to 1.2% on the current price. This is the first price increase by HSCI in two years.

The increase in the price of Accord will be announced shortly as a new model is expected soon.

Over the past two years, there has been a significant increase in the cost of raw material such as steel, aluminium, plastics etc. Apart from these, logistics costs too have gone up, impacting bottom lines.

Commenting on the price increase, Mr Jnaneshwar Sen, Senior GM, Marketing, said, "The reasons are obvious - input costs have been rising steadily for the past two years, but we have not passed them on to the customer. At Honda, we don't like to disturb the prices of products after launch and have absorbed the increase in input costs so far. But now we have to pass on some of the cost increase to the customer."