Moneycontrol
you are here: HomeNewsBusinessCars
Sep 14, 2017 05:27 PM IST | Source: Moneycontrol.com

Honda follows Toyota, hikes car prices by up to Rs 89,000

Honda Cars India (HCIL), the country’s fourth largest car maker, has raised prices of the City, BR-V and CR-V in the range of Rs 7,000 to Rs 89,000 following the hike in cess of 2-7 percent.

Honda follows Toyota, hikes car prices by up to Rs 89,000

Swaraj Baggonkar

Moneycontrol News

Honda Cars India (HCIL), the country’s fourth largest carmaker, has raised prices of the City, BR-V and CR-V in the range of Rs 7,000 to Rs 89,000 following the hike in cess of 2-7 percent.

All variants of the City, the second highest-selling mid-size sedan in the country, have seen prices go up by a minimum of Rs 7,000 to Rs 18,800 on the petrol as well as diesel. The top-end diesel City now costs Rs 13.62 lakh.

The top-end diesel version of the budget sports utility vehicle BR-V now costs Rs 13.22 lakh while the top-end version of the premium SUV called CR-V is now priced at Rs 26.36 lakh.

The revised prices were brought into effect from September 11, said the Delhi-based company. The price hike comes into effect when dealers begin to increase inventory to meet the hiked demand during the upcoming festive season.

Fellow Japanese rival Toyota Kirloskar, too, hiked prices earlier this week on four of its models – Etios, Corolla Altis, Innova Crysta and Fortuner – by up to Rs 1.6 lakh.

The new additional cess was brought into effect on cars that are longer than 4 meters. The cess was in three slabs – 2,5 and 7 percent- and besides the length of the car it was also based on the engine capacity and vehicle type.

The new revised total tax slabs for the cars are 45, 47 and 50 percent, which includes Goods and Services Tax (GST), too. Small cars (less than 4 meters) will continue to be charged at 29 percent and 31 percent.

Other companies such as Hyundai, Mahindra & Mahindra, Tata Motors, Skoda, Renault, Nissan, Volkswagen and Maruti Suzuki are also expected to increase prices.

With the price hike the gap between small cars and large cars is expected to go slightly. Presently, small cars command a share of 80 percent in the domestic market.
Sections
Follow us on
Available On