Honda Cars India Ltd (HCIL) is looking to hike prices of its entire product range in the country from the first week of January as it aims to partially offset the effects of adverse exchange rate and inflation.
“We are looking to hike prices from the beginning of January. The price hike will be across our entire model range comprising Amaze, Brio, CR-V and Accord,” said HCIL Senior Vice-President Jnaneshwar Sen.
When asked about the quantum of increase in prices, Sen said the company is “still working on the details”.
The company, which is a wholly-owned subsidiary of Tokyo headquartered Honda, currently sells four models in the country-hatchback Brio, sports utility vehicle CR-V and sedans Amaze and Accord.
Last month, Honda had unveiled the all new version of its sedan ‘City’, which it plans to again start selling from January 2014 in petrol and diesel variants.
In October, the company had raised the prices in the Rs 2,000-10,000 range across models.
German luxury car maker BMW in November had announced it would increase prices of its vehicles in India by up to 10 per cent from January 1, 2014 as part of its sustainable and profitable growth strategy. The price increase from 7 to 10 per cent will be across the BMW and MINI product range.