Honda Siel Cars India Limited will be introducing its next small car in the Indian market by early 2011. According to the official statement from Honda, their small car project is very much on schedule. However, the company states that the car will not be priced for the volume market. Although Honda Motor Corporation Chief Operating Officer (Asia and Oceania) Fumihiko Ike did not explicitly define the volume market it is usually assumed to comprise of cars in India that fall in the price band of Rs. 2-4 lakh. Currently, Ford Figo, Chevrolet Spark, Chevrolet Beat, Maruti Alto, Maruti Wagon R, and Hyundai Santro fall in this segment.
"Everybody is looking at the volume market, while historically our cars have always been positioned slightly higher than the volume segment," said Ike. He also stated that Honda will not bring sedan version of its small car whose concept model was introduced earlier this year at the Delhi Auto Expo 2010.
The expected price of the car is around Rs. 5 lakh which is priced well-below Honda Jazz that comes at an ex-showroom price of Rs. 7.11 lakh.
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