Honda Cars India to increase vehicle prices from January: Sources

Japanese auto major Honda plans to increase vehicle prices in India from next month and company dealers have been informed about the decision, industry sources said.

The automaker, which is present in the country through a wholly-owned subsidiary Honda Cars India Ltd (HCIL), sells a range of vehicles starting from compact sedan Amaze going up to premium SUV CR-V. Amaze prices currently start from ₹6.17 lakh while the entry level CR-V is tagged at ₹28.71 lakh (ex-showroom Delhi).

A company dealer confirmed the development and said the company is hiking the prices from January due to pressure on input cost and currency impact. The model wise amount of increase will be intimated by the company to them in early January, the dealer added. When contacted, a company spokesperson confirmed the move without sharing any details.

Already, various automakers have announced hiking prices of their models from next month. Last week, Renault India said it will increase price of its entire model range by up to ₹28,000 from January. The company, which sells models like Kwid, Duster and Triber, said the price hike from January would vary across variants and products.

Other companies such as Maruti Suzuki, Ford India and Mahindra & Mahindra have already stated that they would be increasing price of their vehicles from January in order to mitigate the adverse impact of rising input costs, specially raw materials and commodity prices. Further, two-wheeler major Hero MotoCorp has also announced that it will increase price of its vehicles by up to ₹1,500 from January 1, 2021 to offset the impact of rising input costs.