The leading car manufacturer Honda Seil Cars India (HSCI) has announced a cut in prices of all its car models by up to Rs 31,000 in response to the reduction of excise duty by 4% by the government.
Honda’s largest selling car, Honda City, will be cheaper by around Rs 19,000 and the cost of Honda Civic will be reduced by around Rs 31,000. The price of the top-end sedan, Honda Accord will be lowered by Rs 27,000.
The company has not declared any reduction in the price of Honda CR-V as this SUV is imported as a completely built unit. However, it has plans to increase the price of its SUV by around Rs 1.25 Lakh by early next year.
M Takedagawa, President and CEO of HSCI, said, “We welcome this move by the government. The reduction in duty will give the necessary boost to consumer demand and fuel growth in the Indian economy.”