Honda Siel Announces Price Hikes

Honda Siel Cars has announced the price hike across all its models by Rs 30,000 to 101,000 stating fluctuations in the exchange rate of the Indian Rupee and Japanese Yen against the US Dollar as the reason. Among it models Honda CR-V will experience an addition burden of Rs 3,54,000 as its brought to India as a completely built unit. Honda City will be costlier by Rs 30,000-35,000, Civic go high by Rs 50,100-63,000. All these revised prices will be effective from April 1st 2009.

Honda Accord form the premium car segment will go high by Rs 1,00,000-1,01,000 which will be effective from March 16th.

According to Jnaneswar Sen (Vice-President Marketing, Honda Siel Cars), "The rupee has declined by over 16 per cent against the USD in the past eight months. However, during the period Japanese currency has strengthened by 10.5 per cent during this period. And these variation in the currency have resulted in tremendous increase in cost of imports impacting the bottom lines"

Source: http://www.carazoo.com/newcars/make/Honda