Due to the increase in input cost, the company is planning to increase the prices of all its cars. An official of Honda Motors India has given this information.
honda cars
If you are planning to buy a Honda car, then make a quick purchase because Honda Cars India is going to increase the price of all its cars. The prices of these cars are being increased due to increase in input cost. PTI quoted a company official as saying that rising commodity prices due to rise in prices of items like steel and precious metals are making it necessary to hike car prices.
Rajesh Jeel, Senior Vice President and Director of Marketing and Sales, Honda Cars India said that the rising input cost is forcing the car prices to increase. Further, he said that there has been a sharp increase in the prices of raw materials like steel, aluminum and other precious metals, which is affecting our input cost a lot.
Rajesh further added that “Our endeavor is to keep the acquisition cost low, so we are currently looking at how much additional cost we can absorb and what is essentially the cost to our customers.”
The company will increase the price of its cars for the second time
Let us tell you that many automakers have already increased the price of their passenger vehicles and two-wheelers for the same reasons. Honda also increased its prices in April and now the company is planning to increase the prices for the second time. Talking about the company’s India portfolio, it includes Amaze and City sedans along with many more cars.
What will be the effect of increase in prices on customers
It is not yet clear how the increase in prices will affect the demand for passenger vehicles, which have been increasing after the relaxation of the lockdown. Almost every major company has reported a jump in sales in the month of June, but all the companies are also underlining the need to be cautious. Rising input costs, global shortages in semiconductor chips and the threat of a possible third wave in the country have the potential to put the brakes on the automotive industry, which has been affected since 2019 for different reasons.
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