Japan’s auto company Honda plans to increase the prices of its entire range of vehicles in India from next month. A senior company official said that it has to take this step due to the rise in prices of essential commodities like steel and precious metals. The company sells various models in the Indian market including the City and the Amaze. At present, the company is deciding how much burden it will pass on the increase in vehicle prices to its customers.
Rajesh Goel, Senior Vice President and Director (Marketing and Sales), Honda Cars India told PTI, “The prices of raw materials like steel, aluminum and precious metals have increased. Prices of some commodities are at all-time highs. This is affecting our cost of production.
He said the company is currently working on the details of the price hike. The price hike will be done from August.
Goyal said, “Our aim is to keep the cost of purchase low for the customers. Right now we are considering how much to bear the additional cost and how much to pass on to the customers. The revised prices will be applicable from next month.
(Except for the headline, this news has not been edited by the NewsBust India team, it has been published directly from the Syndicate feed.)