Our Bureau

New Delhi, March 1

HONDA Siel Cars India Ltd today announced a price reduction of Rs 2,500-8,000 on the Honda City and Honda Accord models following a customs duty cut announced in the Budget.

The Budget has proposed reduction in the peak rate of Customs duty to 15 per cent, a move that would benefit auto companies selling cars in the country through CBU (completely built unit) or CKU (completely knocked down) routes.

"The five per cent cut in the peak customs duty is a welcome move. We are extremely pleased to pass the benefit of the duty cut to our customers," said HSCIL President and CEO, Mr H. Yamada.

As per the price cut effective Monday , Honda City 1.5 EXi would cost Rs 6,49,500; Honda City GXi would cost Rs 6,99,500 and City CVT would be priced at Rs 7,59,500 (ex showroom Delhi).

Honda Accord VTI-L manual variant would now cost Rs 14,71,000, while the automatic variant would be priced at Rs 15,42,000. Honda Accord V6 (A/T) would now cost Rs 16,99,001.

(This article was published in the Business Line print edition dated March 2, 2005)
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