Honda plans to increase car prices by up to Rs 10,000 in April, in order to offset a dent on margin from higher raw material costs and freight charges.
Except for the recently launched W-RV, all other cars from Honda India's stable will be more expensive from the coming month. This price hike doesn't come as a surprise as all the manufacturers are citing rise in input costs and an adverse impact on foreign exchange rates. The weakened rupee has also made imported parts more expensive.
Several manufacturers have already announced price hikes in January and rest are expected to do soon. This price hike after the new year has somewhat become a norm in India and many carmakers also plan to increase car prices in the new financial year.
Jnaneswar Sen, Senior Vice President, marketing and sales, Honda Cars India Ltd. said, "Due to increase in freight charges and input costs, we are forced to consider increasing the car prices for most of our models. The increased price will be effective from first week of April 2017."
