Honda Siel Cars India has announced its entry into
the small car segment in India and has said its small
cars would cater to the premium market.
implies, contrary to indications, the new passenger
car would not be priced as low as $3,000 (Rs1,20,000)
unlike other small cars in the led by Tata Motor, which
are in the offing.
has said its small car would cost about $9,000 (Rs3,60,
000) would not be a vanilla offering.
company plans to develop a hatchback like Maruti''s Swift
or Hyundai''s Getz in the premium segment that would
qualify for excise duty benefits given to small cars.
company''s planned plant in Rajasthan would be set up
with an initial investment of Rs1,000 crore, would begin
production by 2009 and employ about 3,000 people.