Honda declares price hike on Brio, Jazz and City models to a maximum of 2.6 percent

Tuesday 25 September 2012, 11:49 AM by

Honda Cars India Ltd, the Indian subsidiary of the Japanese auto giant has planned to hike the prices of its bestselling models in the Indian auto market to offset the subsiding effect of the recently uplifted cost of diesel fuel. Honda Brio hatchback, Jazz premium hatchback and City sedan are likely to witness a surge in the prices to the tune of 0.2 percent - 2.6 percent on their current price tag. The price rise on these Honda badged models will be applicable from 1st October, 2012.

Honda declares price hike on Brio, Jazz and City models to a maximum of 2.6 percent | CarTrade.com
Honda declares price hike on Brio, Jazz and City models to a maximum of 2.6%

While Brio and Jazz will be imposed with increased rates of Rs. 1,000 and Rs. 15,000, respectively, the top selling City sedan will see a shoot up in prices between Rs. 1,000 to Rs. 6,000 across all variants. The mounting input costs, inflationary pressures backed by hike in freight due to surge in diesel prices have been gauged as the major reason for taking this step ahead of the festive season.

The government had recently announced the hike in diesel prices to contract the price parity with petrol fuel costs. But the step has fuelled the freight cost for many auto majors.

Moreover, the current market situation is enveloped with constraints, mainly for international car makers in the form of depreciating value of rupee, which adds to additional barrier to the Japan based car makers owing to appreciating value of Yen.

Though Honda is endeavouring to roll out the automatic variant of Brio and CNG variant of City as a festive season treat for Indian buyers, the effect of this price hike on the sales of its hot selling models is a bit sceptical.

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