It was recently announced that the excise duty reduction by the government for automobiles ceased to exist from the 1st of January this year onwards. This, in addition to certain other factors like higher input costs, has resulted in car manufacturers Hyundai and Honda to hike prices of their vehicles.
The most popular vehicle in the Honda model range, the City, has price hikes that go all the way up to INR 48,000. While the diesel variants of this car will cost between INR 37,000 to INR 48,000 more depending on the variant, the petrol variants will see a rise of between INR 33,000 and INR 46,000. Another very popular car by Honda, the Amaze compact sedan, will cost between INR 23,000 and INR 26,000 more for the diesel version and between INR 19,000 and INR 23,000 for the petrol version.
The price increase of the Honda Mobilio is still being finalised by the company, but the Honda CR-V will now be more expensive by a whopping INR 60,000. The Brio hatchback from Honda, depending on the variant, will cost between INR 15,000 to INR 18,000 more. South Korean car maker Hyundai has said that the price of their entire model range will go up from between INR 15,000 (for the Hyundai Eon) and INR 1,27,000 (for the Hyundai Santa Fe).