Report-Honda hikes prices for Brio and Amaze

The car company Honda, raised the prices for its entry level product Brio and the compact sedan Amaze, by INR 800 following the tax rationalization in the Budget. The prices for Brio have increased by INR 600, and the petrol and diesel variants of Amaze have been up by INR 800 with effect from the first week of April. Following the inflation, the Brio would cost up to INR 4.21 lakhs and INR 6.79 lakhs, while the compact sedan is priced at INR 5.18 lakhs and INR 8.21 lakhs, ex-showroom prices in the Capital.

 

According to the Senior Vice-President of Marketing and sales, Mr. Jnaneswar Sen, the price hike was planned right after the rationalization of Budget, but the brand planned in for April to be put to the consumers as March is generally a good month for sales.

 

It is to be noted that the brand has not increased the prices for its other vehicles. However this would be the second price hike from the company in this current year, as prior to this the Honda had increased their prices by up to 60,000 in the month of January. Brio was hiked by INR 18,000 and the CR-V by INR 60,000.

 

The reason behind this hike was the Govt. not able to extend excise duty concessions given to the Auto industry and consumer durables. Currently the brand is making and selling 5 of its models to the streets of India, including their best seller fourth Generation City and the multi-utility vehicle Mobilo. The brand witnesses strong sales inflation throughout the year, the brand reported its highest annual sales of 1, 89,062 units within India, during the Fiscal 2015, granting a profit of 41 percent in total.