Honda Cars India has hiked prices up to Rs 60,000 due to expiry of reduced excise duty concessions and also to offset rising input costs. The government’s concessions excise duty given to the auto industry and consumer expired on December 31, 2014. The government had extended the excise duty concessions by 6 months in June on cars, SUVs, two-wheelers and consumer in the interim Budget in February, 2014.
The 2014 excise duty on small cars, scooters, motorcycles and commercial vehicles was reduced to 8% from 12% previously. It was cut to 24% for the SUVs vehicles from 30%, 20% for the mid-sized cars from 24% and 24% for large cars from 27%.
So according to the new hike, the entry level car Honda Brio costlier between Rs. 15,000 to Rs. 18,000 and it will now available between ex-showroom price Rs. 4.21 lakh and Rs. 6.30 lakh in Delhi.
The compact sedan Amaze petrol version has been hiked between Rs. 19,000 to Rs. 23,000 while the Amaze diesel version would expensive by Rs. 23,000 to Rs. 26,000 and it will now be available at ex-showroom price from Rs. 5.18 lakh to Rs 7.78 lakh.
The mid-sized sedan Honda City petrol variants will be expensive by up to Rs. 48,000. The Petrol City hiked up to Rs. 33,000 to Rs 46,000, while the City diesel variants will be expensive between Rs. 37,000 to Rs 48,000. The model is now priced between Rs 7.53 lakh and Rs 11.53 lakh.
The premium sports utility vehicle Honda CR-V hiked by Rs. 60,000 which will now be available between Rs 20.85 lakh and Rs 24.96 lakh.
There is no news about price hike of its MPV vehicle Honda Mobilio, so company is still working on the quantum of price hike for it.
Maruti, Hyundai and GM prices hiked
Honda is not only one to increase the prices. According to news report Maruti, Hyundai and General Motors India have also announced to hike price for the same reasons.
According the news source, Maruti hiked prices for its entry-level Alto by up to Rs 10,000, Swift by Rs. 20,000 and the Dzire by more than Rs 25,000
Hyundai has confirmed prices hiked in the range of Rs. 15,000 to Rs. 1,27,000. The entry level Hyundai Eon has risen by Rs. 15,400, i10 by Rs. 21,500, Elite i20 by Rs. 27,000 and Santa Fe SUV by 1.27 lakh.
General Motors India had announced a price hike by up to Rs. 20,000, apply from January in order to partially offset rising input costs.