Honda Cars India Announces Increase in Car Prices to Be Effective from 1 February 2019

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Honda Cars India announces increase in car prices To be effective from 1 February 2019 New Delhi, 17 January 2019: Honda Cars India Ltd. (HCIL) today announced a price increase on its models, which will be effective from 1st February 2019. The price increase on the CR-V will be Rs 10,000 and on other models upto Rs 7,000. Mr. Rajesh Goel, Sr. Vice President and Director, Sales and Marketing, Honda Cars India Ltd. said, “There has been a huge pressure on costs owing to commodity prices & foreign exchange rates and we had been trying to hold this increase for as long as possible. However, we are now compelled to pass on a part of the increased costs to customers effective Feb 1.” About Honda Cars India Ltd Honda Cars India Ltd., (HCIL) leading manufacturer of passenger cars in India was established in December 1995 with a commitment to provide Honda’s latest passenger car models and technologies, to the Indian customers. HCIL has two state-of-the-art manufacturing facilities at Greater Noida, U.P and Tapukara, Distt. Alwar, Rajasthan. The company’s product range includes Honda Brio, Honda Jazz, Honda Amaze, Honda City, Honda WR-V, Honda BR-V and Honda CR-V – which are manufactured in India. The Accord Hybrid is being sold as a completely build unit imported from Thailand. Honda’s models are strongly associated with advanced design and technology, apart from its established qualities of durability, reliability and fuel-efficiency. The company has a strong sales and distribution network with 342 facilities in 233 cities across spread across the country. For further information please contact: Saba Khan Honda Cars India Limited 0120- 2341313 [email protected] .

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Honda Cars India
Honda Cars India Honda Cars India Limited Type Subsidiary Industry Automotive Founded December 1995 Headquarters Greater Noida, Uttar Pradesh Number of Greater Noida, Uttar Pradesh locations Bhiwadi, Rajasthan Mr. Hironori Kanayama, President Key people and CEO [1] Products Automobiles Parent Honda Website hondacarindia.com Honda Cars India Ltd. (HCIL) is a subsidiary of the Honda of Japan for the production, marketing and export of passenger cars in India. Formerly known as Honda Siel Cars India Ltd, it began operations in December 1995 as a joint venture between Honda Motor Company and Usha International of Siddharth Shriram Group. In August, 2012, Honda bought out Usha International's entire 3.16 percent stake for 1.8 billion in the joint venture. The company officially changed its name to Honda Cars India Ltd. (HCIL) and became a 100% subsidiary of Honda. It operates production facilities at Greater Noida in Uttar Pradesh and at Bhiwadi in Rajasthan. The company's total investment in its production facilities in India as of 2010 was over 16.2 billion. Contents Facilities HCIL's first manufacturing unit at Greater Noida commenced operations in 1997. Setup at an initial investment of over 4.5 billion, the plant is spread over 150 acres (0.61 km2). The initial capacity of the plant was 30,000 cars per annum, which was thereafter increased to 50,000 cars on a two-shift basis. The capacity has further been enhanced to 100,000 units annually as of 2008. This expansion led to an increase in the covered area in the plant from 107,000 m² to over 130,000 m².
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