Honda Siel Cars India is exploring the option of manufacturing the CR-V in India. Currently,Honda is directly importing the CR-V’s from Japan as a completely built unit (CBU) and this escalates the price to Rs20lakh(as CBU attracts 114% import duty). CR-V has been the market leader in its segment since its debut. On an average, about 300 units of the CR-V are retailed every month. But as this segment is hotting up, many manufacturers intend to roll out new models next year. Chevrolet Captiva, Mitsubishi Outlander and Hyundai Santa Fe will positioned against CR-V. If Honda’s plan comes true, you may buy CR-V in 2008 or 2009 for Rs 12-14 lakhs or instead of merely going in for price cuts, Honda may add features that would entice buyers. “We are studying the possibilities of producing the CR-V locally, which will help us become a far more active player in the growing SUV market”,Masahiro Takedagawa, president and CEO of HSCI, told. Last month we reported you , Honda may replace the 2.2L engine with its popular 2.0L engine to take on the Maruti Suzuki’s vitara. Honda is packing CR-V to take on the competition.