Honda has announced that the prices of all of its cars in India, including the 2018 Honda Amaze, will be hiked in the range of Rs 10,000 to Rs 35,000 from August 1, 2018. The price hike will be applicable to all the existing cars as well as the newly launched cars and all other Honda models, including the WRV, Brio, City, CR-V, Jazz, BR-V and Honda Accord.
The higher cost of raw materials and an increase in customs duty and freight charges have been attributed as the reasons for this price increase. Honda isn’t the only car manufacturer that has increased its car prices in India. Even Hyundai India recently increased prices of most of its cars by up to 2 per cent.
The news of price hike was announced by Honda in an official press release on 9 July 2018. The press release titled ‘Honda Cars India to hike car prices, to be effective from August 2018’ says that Honda Cars India Ltd (HCIL) has decided to hike the price of its models in India by Rs 10,000 to Rs 35,000. From 1 August 2018, all the cars will be sold at the revised prices.
“Due to the increasing pressure on input costs, impact of custom duty hike over past few months and higher freight rates, we are forced to consider increasing the prices of our cars. The increased price will be effective from 1 August 2018. The introductory price of the recently launched All New Amaze will also be revised from August,” said Mr. Rajesh Goel, Sr. Vice President, Sales and Marketing, Honda Cars India Ltd.
The step was also taken in a bid to improve the company’s reputation and value in the Indian market where it has been constantly losing out to companies like Hyundai and Maruti Suzuki, especially in new car segments. The company had earlier reported that it will launch 3 new cars in the country this year, out of which the new Honda Amaze was already launched in May 2018 while the other two cars, including the Civic and the new CR-V, are expected to be released later on.