The Hindu Business Line : Honda New City prices to remain unchanged; other models may cost more

Madurai, Nov. 27 “The price of the newly-launched Honda New City will remain unchanged while for other models we need to increase prices by about 6 per cent to 7 per cent,” said Mr Masahiro Takadegawa, President and CEO, Honda Siel Cars India Ltd., in a press meet after inaugurating the Honda 3-S facility at T.V. Sundram Iyengar and Sons Ltd, here on Thursday.

While the oil prices have come down, the input costs remain high and with the depreciation of the rupee, an increase is contemplated, he said.

Asked about the unique features of Honda cars in India, he said the company has been designing a global model and would like the customers to drive the same cars that the world drives. The air filters to prevent dust and control of the music system in the rear were unique India-specific features, he said.

Referring to the Indian economy, he said that the company was committed to investing in the country as the market potential was high. The fundamentals are strong and the situation today is different from that during the Asian crisis a decade ago.

The production capacity of the company’s first plant at Greater Noida has been expanded to 1,00,000 and a second plant has been inaugurated in Rajasthan.

The company hopes to export the engine components to South Asia.

Within the country, the company plans to have more than 100 dealerships by the end of this fiscal year, he said.

Asked about investing in Tamil Nadu, he said the supply chain was a major consideration as the market and suppliers were in the North.

More Stories on : Outlook | Cars | Tamil Nadu

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