The recent economic slowdown has affected the Indian car industry as much as any other sector. Honda announced a booming Rs 8 lakh slash on prices of its recently launched “Go Green” attitude Honda Civic Hybrid model. The amount of the price cut is one of the steepest in the history of the Indian automobile market.
The price slash starts with immediate effect and is a limited period offer. This is the first time that Honda Siel Cars India Ltd. is using direct price cuts as a marketing strategy to sell cars. Based on various cities, the price cut varies from Rs 8,14,000 to Rs 8,17,000. This will reign the price of the Hybrid between Rs 13,25,000 to Rs 13,85,000 (ex-showroom) – almost the same as its Civic petrol counterpart.
The price reduction could be based on the hope that the Civic Hybrid, which has sold only 63 odd cars since its launch in June 2008, will follow in the footsteps of its sibling – the Civic petrol, which sold close to 5000 cars in the first 6 months after its launch in July 2006.
The Honda Civic Hybrid is India’s first completely hybrid vehicle introduced with a lot of fanfare midst loads of public excitement. It comes with a 1.3-litre SOHC iVTEC engine with IMA technology coupled to a continuously variable transmission (CVT) and a front-wheel drive configuration. The Hybrid generates a power of 94 bhp at 6000 rpm and 122 Nm of torque at 4600 rpm. It runs on petrol and electric batteries and provides an estimated fuel economy of 14/18 km/l (city/highway).
The Honda Siel Cars India Ltd. Marketing Vice President, Jnaneswar Sen, was quoted saying “We have taken a hit on the price to offer this eco-friendly technology to potential customers. There have been thousands of enquiries for the Hybrid, which had not culminated in actual sales”.