Honda Cars India has announced the increase in prices of all its vehicles and the company is going to introduce increased prices from February 1, 2019. The company has increased prices of cars in January 2019 by up to 4%, these prices will see an increase in the prices of Honda cars in the coming months. The company has increased prices of all cars by up to Rs 10,000, in which the price of Honda CR-V has increased by Rs 10,000 and the price of the remaining models has been increased by upto Rs 7,000 according to the variant.
Honda Cars India Ltd Senior Sales and Marketing Senior Vice President and Director Rajesh Goyal said, “The company has to bear the increased prices due to the high commodity rate and the huge exchange rate in the foreign exchange rate, and we have been able to bear these accumulated prices for a long time we have tried our best. In such a situation, the implementation of these increased prices has now become the compulsion of the company which will be implemented from February 1, 2019. ”
Recently, almost all the major carmakers of India have given rise to the prices of all their vehicles, stating the same reasons, which include brands such as Maruti Suzuki, Tata Motors, Ford, Renault, Nissan, Toyota and BMW. In view of many domestic economic aspects such as cost escalation and interest rate hikes, foreign economic factors such as tax rate and forex rates, Japan’s car company has increased prices of its cars, in which the price of Honda CR-V is increased by that amount. The soon-to-be-launched new Honda Civic will also come in this category, which will be made from 30% of imported parts.