Honda To Hike Prices By 3% From January

If you are planning to buy a car, do it before 2016 ends. Because, come January, the prices of numerous offerings from various carmakers are going to go north. The latest to join this list is Honda Car India Ltd. (HCIL) that will hike prices of all its models by upto three per cent, according to a press release. 

“Due to the increasing pressure on input costs and fluctuating exchange rates, we are forced to consider increasing the car prices across our line-up. The increased price will be effective from first week of January 2017,” said HCIL’s president and CEO, Yoichiro Ueno.

The company’s portfolio in India ranges from the Honda Brio hatchback, priced at Rs 4.69 lakh, to the Honda CR-V that starts at Rs 22.23 lakh (both prices ex-showroom, Delhi). Other products in the Japanese manufacturer’s lineup include the Jazz, the Amaze, the Mobilio, the City and the BR-V. 

Other Asian manufacturers like Toyota and Nissan had already hiked prices of their offerings earlier this month, citing it as a measure to offset the impact of rising input costs and ‘maintain competitiveness in the industry.’

Homegrown carmaker Tata Motors also followed suit soon thereafter by announcing a price rise of upto Rs 25,000. Moreover, other automakers like Renault have also been mulling to go down the same road in the coming weeks.