Honda to up car prices

Honda Siel Cars India on Friday said it will hike the prices of its production models in India by next week, while a new version of its top-end model Accord is expected by the second week of January.

"There has been pressure from increased input costs and the company has decided to hike prices across all the production models between 1.5 per cent and 2 per cent by next week," a company official said.

Models from the Honda stable that would see increased prices include the popular mid-sized sedan City, newly introduced sedan Civic and the top-end luxury model Accord.

While City is currently priced around Rs 670,000, Civic comes at Rs 1.7 million, while Accord costs about Rs 1.5 million.

Honda has, however,

spared the recently launched sports utility vehicle Honda CRV from price hike.

"CRV is sold in India through the completely built unit route and hence we are not tinkering with its prices," the official said.

In the past two years while competitors have increased prices, Honda has stuck to the original tag of its models.

Sources said the company is set to launch a new version of its top-end model Accord by the second week of January.

Despite the upcoming launch of the new version, the company has decided to hike the price of existing Accord.

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