Honda hikes car prices, others may follow suit
14 Mar 2011
Pinched by rising input costs, Honda Siel Cars India today said that it would raise its prices by 2-3 per cent from 1 April.
Other carmakers are reportedly mulling whether to follow suit, and are expected to take a call on whether to hike prices by end-this month.
''Commodity prices are rising very strongly in recent months. We will raise the prices of all our cars by 2-3 per cent from next month to minimise the impact of strengthening raw material rates,'' a Honda Siel Cars India (HSCI) spokesperson said in Mumbai.
The Japanese carmaker said it would hike the prices of all its products except the luxury sedan Accord. The Jazz, City, Civic and CR-V will see a hike in their prices next month. The Japanese Tsunami has had an effect on the company's policies here in India too.
Other car-makers, also impacted by the continuous rise in raw material prices, said they are mulling a price hike but would take a call on the matter by end-this month.
Ford India said that increasing input costs in recent months is worrying the company. "Surging raw material costs is worrying us and it is now the biggest concern for almost all auto-majors in the country," Ford India's president and managing director Michael Boneham , told PTI.
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