Honda Cars India Ltd. (HCIL) is set to increase the prices of its models, owing to the increase in freight charges and input costs. The quantum of the price hike will be up to Rs 10,000 and will be effective from April 2017.
The latest hike is not applicable to the company's newly launched the WR-V compact SUV. Honda's India portfolio includes Brio, Jazz, Amaze, WR-V, City, BR-V, CR-V and Honda Accord Hybrid.
"Due to the increase in freight charges and input costs, we are forced to consider increasing the car prices for most of our models. The increased price will be effective from first week of April 2017," said Jnaneswar Sen, senior vice president, Marketing and Sales, Honda Cars India Ltd.
Honda launched the WR-V, the company's first compact SUV in India on March 16. The WR-V, the Jazz-based compact model has been priced starting at Rs 7.75 lakh (Ex-showroom Delhi).
Earlier this month, BMW India announced a hike in the prices of its entire range of cars, which will be effective from April 1. Several carmakers in India had increased the prices of their models in January 2017.
Carmakers like Hyundai, Tata Renault, Tata and Volkswagen increased the prices from January 1. The price hike of Volkswagen models was by up to 3 percent depending on the model, while the price hike of Mercedes-Benz was about 2 percent. Toyota hiked the prices in the range of 3 percent, while the prices of Tata vehicles went up in the range of Rs 5,000 to Rs 25,000, depending on the model.