Honda to hike car prices due to rising input costs, announcement likely to happen in this week

Honda to hike car prices from this week due to rising input costs and weakening rupee. The hike is likely to be in the range of 1-2 percent.

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New 2014 Honda City exterior (11)

Honda Cars, along with its counterparts, is feeling the burden of rising input costs which has forced the car maker to consider hike in prices of its products in the Indian market.

Senior vice-president of Marketing & Sales at Honda Cars India, Jnaneswar Sen, in an interview to Business Standard, said that the main driver for this price hike is the increase in cost and the weakening rupee. Honda is still evaluating the increase that is required, and the models that would be covered in this price hike. The Indian arm of the Japanese car maker will announce the price hike in this week.

New 2015 Honda Jazz front (8)

What’s also caught everyone’s curiosity is whether Honda intends to cover the newly launched Jazz, introduced in July 2015, in this price hike? Maruti Suzuki and Hyundai India, who recently upped the product prices in India by Rs 3,000 to Rs 9,000 and Rs 30,000 respectively in the month of August, did not hike the prices of their newly launched products, the S-Cross and the Creta and it is highly likely that Honda Cars will follow the same drill for the Jazz.

Click here to read our review of the new Honda Jazz

While Honda has still not given any indication about the percentage of hike in prices, report suggests that the increase will approximately be around 2 percent. We are expecting an official announcement very soon so stay tuned for new updates. Meanwhile, share your views about this price hike with us through the comments section below.

Source: Business Standard

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