Honda Siel Cars India has announced an increase in the price of all its production models by Rs 30,000 to 101,000.
The price of City has been increased by Rs. 30-35 thousand and for Civic the hike is between Rs. 50-63 thousand depending on the model. Honda Accord has become costlier by almost Rs. 1 lakh. However, the steepest hike is effected in the price of Honda CRV. Fully imported Honda CRV has become costlier by more than Rs. 3.50 lakhs for all models.
The price of Honda CR-V which is a fully imported unit will be increased by Rs 3,54,000. The revised prices for City, Civic and CR-V will be effective from April 1, 2009 and for Accord from March 16, 2009.
The company said that increase had become necessary because of depreciation of Indian Rupee and strong Japanese Yen against Dollar.
Mr Jnaneswar Sen, Vice President, Marketing, said, "The rupee has depreciated by over 16% vs USD in the past 8 months. On the other hand, the Japanese Yen has strengthened by 10.5% during this period. These currency fluctuations have resulted in tremendous increase in cost of imports impacting the bottom lines, but so far, we have refrained from passing them on to the customer. But it is not possible to absorb the impact any more."
MORE RELATED NEWS
TOP STORIES
POLL
Do you think that Anna Hazare's Jan Lokpal bill will be able to contain rampant corruption in India?
