Japanese auto major Honda plans to increase vehicle prices in India from next month and company dealers have been informed about the decision, industry sources said.
The automaker, which is present in the country through a wholly owned subsidiary Honda Cars India Ltd (HCIL), sells a range of vehicles starting from compact sedan Amaze to premium SUV CR-V.
Amaze prices currently start from Rs 6.17 lakh while the entry level CR-V is tagged at Rs 28.71 lakh (ex-showroom Delhi).
A company dealer confirmed the development and said the company would raise prices from January due to pressure on input cost and currency impact.
The model wise amount of increase will be intimated by the company to them in early January, the dealer added.
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When contacted, a company spokesperson confirmed the move without sharing any details.
Other automakers too have announced a rise in prices of their models from next month.
Last week, Renault India said it will increase the price of its entire model range by up to Rs 28,000 from January. The company, which sells models like Kwid, Duster and Triber, said the price hike from January would vary across variants and products.
Other companies such as Maruti Suzuki, Ford India and Mahindra & Mahindra have already stated that they would increase price of their vehicles from January in order to adjust the impact of rising input costs, especially raw materials and commodity prices.
Further, two-wheeler major Hero MotoCorp has also announced that it would increase prices of its vehicles by up to Rs 1,500 from January 1, 2021 to offset the impact of rising input costs.