Honda Cars plans on increasing prices from 1st April, 2015

Wednesday 25 March 2015, 16:14 PM by

Japanese automaker Honda has been a popular choice in the Indian market. The company owing to issues like rising input costs is forced to increase the prices of its models effectively from 1st April, 2015. The recently revoked union budget also did not seem to be reliever as the union budget brought in 0.5% hike in excise duty for small cars that also includes the Amaze sedan. Speaking more on the occasion, Mr. Jnaneswar Sen, Sr Vice President, Marketing & Sales, Honda Cars India Ltd said "We are working on increasing the prices of vehicles across models from April due to the cost pressure. In the Union Budget excise duty was increased to 12.5% from 12% while education cess levied on cost of vehicle plus excise duty, was lifted, this caused a slight increase in the price of small cars where we have Brio and Amaze."

Honda Cars plans on increasing prices from 1st April, 2015 | CarTrade.com
Honda Cars plans on increasing prices from 1st April, 2015

Last year Honda has reported an impressive 44% growth, whereas this year in February alone the carmaker has witnessed a 16% growth. The company has just hiked up the prices of its vehicles by about Rs. 60,000 earlier this year. Whereas, this time around the company has not revealed the exact hike and may do so soon.

Source: ET Auto

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