HSIC to increase Honda CR-V prices by 30%

The Honda Siel Cars India, Limited (HSCI) disclosed that the Honda CR-V prices could be raised by 30 percent in India. The devaluation of rupee on the company's business has forced to the rise. Masahiro Takedagawa President and VEO of Honda Siel Cars India reported to inform that the devaluation of rupee was impacting their business, because a significant portion of the components were imported from Japan and Thailand. Compact crossover SUV, Honda CR-V is one of the finest cars in India, having not many rivals in its category. The company produces Honda CR-V in all-wheel drive as well as front-wheel drive.  On the other hand, Honda has put on hold the work on its second plant in the country. Honda has indefinitely stopped work on its Rs1, 000 crore second plant in India because of slump in the auto market in India. As a result around 1,000 temporary workers will have to quit the company.

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