Honda to hike vehicle prices from August

Japanese automaker Honda plans to increase prices of its entire model range in India from next month, as it looks to offset the impact of a sharp increase in procurement costs of various essential commodities such as steel and precious metals, according to a senior company official. The company, which sells various models, including City and Amaze, is currently working on the quantum of the increase it would pass on to customers.

“The prices for raw materials like steel, aluminium and precious metals have increased sharply and many of them are at an all-time high, impacting our input costs significantly,” Honda Cars India Senior V-P and Director (Marketing and Sales) Rajesh Goel said.