“Honda Cars India Set to Raise Vehicle Prices in January Amid Escalating Input Costs”
Honda Cars India is set to implement a price increase across its vehicle lineup in the country from January in response to escalating input costs, confirmed by a senior official from the company.
Honda Cars India is set to implement a price increase across its vehicle lineup in the country from January in response to escalating input costs, confirmed by a senior official from the company.
The Japanese automaker, known for models like Elevate, City, and Amaze in India, is preparing to adjust its vehicle prices to counterbalance the mounting pressure on input expenses. Kunal Behl, Vice President (Marketing and Sales) at Honda Cars India, explained that the imminent price hike is a measure to alleviate the impact of rising input expenses.
Behl conveyed to the press agency PTI, “The model-wise amount of increase will be finalized by the end of this month. Our new model Elevate, introduced at a special price, has seen a remarkable reception in the market, garnering significant customer interest. The introductory price offer for Elevate will remain in effect until December 23, with revisions scheduled from January 2024.”
This move aligns with similar decisions by other prominent automakers in India. Maruti Suzuki, Mahindra & Mahindra, and Audi India have all outlined plans to raise the prices of their passenger vehicles effective January 2024. The rationale behind these price adjustments revolves around various factors such as inflationary pressures and heightened commodity rates contributing to increased production costs.
Moreover, Tata Motors and Mercedes-Benz India are also contemplating price revisions for their respective models from January, indicative of the broader industry trend to address the evolving cost dynamics.
The imminent price hike by Honda Cars India, along with other leading automakers, reflects the ongoing challenges faced by the automotive sector due to surging input costs. As these manufacturers navigate these challenges, the forthcoming adjustments aim to balance the economic strains while continuing to deliver quality vehicles to consumers.
Sources By Agencies
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