Honda CRV to Get Expensive
Posted on March 4th 2009If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
Honda Siel Cars Limited intends to raise the cost of Honda CRV by 30% from May 2009 also it plans to maximize the price of its other models.
Mr. Masahiro Takedagawa, Honda Siel Cars India (HSCI) President and CEO said -
“Devaluation of rupee is impacting our business, because a significant portion of our components are imported from Japan and Thailand. This impact is about 30-35 per cent in case of CR-V.”
He further added -
“We will increase the prices of CR-V in May and it will be about 30 per cent, otherwise we will make loss.”
Takedagawa also declared that the cost of totally knocked down units have been hit seriously and there has been a raise of around 9-10% in the import prices. Still the price will not be conveyed to the customers. That means the costs of City, Accord, and Civic may not see high increase in the prices. In India CRV is imported as totally built unit that attracts heavy import duty also.
By editor in Auto India News, Auto Industry News, Auto Pricing, Honda
dreamthecar responded on 06 Mar 2009 at 4:16 am #
Most of the car manufacturers are increasing the price for their models stating the increase in input cost as the reason. Nearly 30 percent is hiked and gradually it will increasing price on other models too.
Rahul,
Indian Car Advisor
Aravind Konduru responded on 13 Sep 2009 at 3:32 pm #
I don’t understand their need to hike prices. The Accord EX sells for around USD 28,000 in the US. It sells for Rs. 27,00,000 (USD 55,000) in India.
Why is there such a huge difference in prices? Especially since the car is being sold internationally at prices similar to the US
Raj responded on 06 Apr 2011 at 3:34 am #
Because they import everything, only assemble here.
Until they start manufacturing here, the price will be almost twice as in US.