Honda hikes prices across its segment, Amaze, Brio, City to cost more

Honda hikes prices across its segment, Amaze, Brio, City to cost more

Leading car manufacturer Honda has reportedly increased the prices of several of its vehicles, taking into consideration the decision of the government of rollback of excise duty concession. The rise in the price is also attributed to offset the rise in the input costs. Entry level car Brio's price has been hiked by Rs. 15,000 to Rs 18,000 and it will now cost between Rs 4.21 lakh and Rs 6.30 lakh (all prices ex- showroom Delhi). Prices of compact sedan Amaze have been hiked in the range of 19,000 to Rs 26,000 and it will now be available for Rs 5.18 lakh to Rs 7.78 lakh. Petrol version of sedan would see a price rise in the range of Rs 19,000-Rs 23,000 while diesel powered models would get expensive by Rs 23,000- Rs 26,000. Honda's flagship brand Honda City will be available in the range of Rs 7.53 lakh and Rs 11.53 lakh, thereby getting more expensive than the current ones by about Rs. 37,000 to Rs 48,000. The company also hiked the price of SUV CR-V by Rs. 60,000. Although the price of its newest offering Mobilio remains unchanged now, the price rise across the various segments would definitely hit Mobilio as well. Fresh after its win in the Lok Sabha elections in June, the Narendra Modi government had extended the excise duty concession by six months to December 31. Earlier in Feb, the UPA government, in its interim budget had decided to cut excise duty on cars, SUVs, two-wheelers, capital goods (heavy machinery) and consumer durables. The industry was expecting that the government would continue with the concessions even in the new year, but the government this time seems firm that the concessions will be withdrawn to the pre-interim budget level of the UPA. It is estimated that the loss to the exchequer due to reduction in excise duty is almost Rs. 700 crore a month.