Honda is all set to hike car prices across models once again. This time the price hike would be between Rs 10,000 to Rs 1.5 lakh and will come into effect from January 2009. “The rupee depreciation has impacted the company’s production costs, forcing it to go for a price hike despite a slowdown in the market. Many of the parts are imported and the rupee’s depreciation has made them expensive. Thus, we will be revising car prices with effect from the first week of January,” Sen said. He also added “The highest impact would be on the sports-utility vehicle CR-V, which is imported to India as a completely-built unit (CBU). The price of the CR-V will go up by at least Rs 1.5 lakh”. While price of the luxury sedan Accord will go up by Rs 30,000 – 50,000, Civic will likely to be dearer by Rs 10,000 – 20,000.
The new City could also witness a revision in price. “For the moment we do not plan to increase the price of City as its new model has just been launched and we have to make deliveries at the announced price. We have received as many as 5,000 bookings so far,” he said. The imported content in the Accord is about 75% and in Civic about 22%. The new City has about 26% imported parts. The current price of CR-V variants is between Rs 17.7-19 .9 lakh, the Accord between Rs 16.9-17 .7 lakh and the Civic between Rs 11-12 .8 lakh (all ex-showroom Delhi).