Honda Cars India today said it will increase prices of its models by up to Rs 35,000 from next month in order to offset the rise in input costs. The company plans to hike prices in the range of Rs 10,000-Rs 35,000 and the revised prices will be effective from August 1, Honda Cars India Ltd (HCIL) said in a statement.
“Due to the increasing pressure on input costs, the impact of customs duty hike over past few months and higher freight rates, we are forced to consider increasing the prices of our cars,” HCIL Senior Vice President Sales and Marketing Rajesh Goel said.
The introductory price of the recently launched all-new Amaze will also be revised from August, he added. HCIL sells models ranging from hatchback Brio with price starting at Rs 4.73 lakh to Accord Hybrid priced at Rs 43.21 lakh (ex-showroom Delhi). In April, luxury carmakers such as Audi, JLR and Mercedes-Benz hiked prices in the range of Rs 1-10 lakh to pass on the increase in customs duties. Hyundai Motor India had also announced to hike prices by up to 2 per cent from June.