Honda may raise price of its models

Honda India one of the popular car seller in India is now planning to raise price of its model in India. Company is planning to take a go slow approach for its production process. However the the small car project will be going as usual. Company Suffered a steep fall in sales this year compare to same period of previous year. Honda India is also cutting down its production in is Greater Noida plant.

According to a statement given by Masahiro Takedagawa, president and chief executive of Honda Siel Cars India Ltd, company awards function “Devaluation of rupee is impacting our business because 20-25% of our components are imported from Japan and Thailand. We need to adjust this cost impact, For the CRV it (the price increase) will be substantial.”