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Honda to hike prices up to Rs16,000

Honda Cars India is the latest automaker to announce a hike in price of various models from January. The price hike will range from Rs10,000 to Rs16,000 depending on the models, according to a company spokesperson.

Several other automakers including Maruti Suzuki, Tata Motors, General Motors, Toyota, Hyundai, Mercedes Benz, BMW, Nissan, Renault and Skoda have also announced price hikes from January to offset rising input costs.

Analysts note that car companies usually announce such hikes towards the end of the year to clear off some of their unsold inventories.

Honda Cars reported cumulative domestic sales of 132,095 units in the April-November 2015 period, an increase of 13 per cent over the figures for the corresponding period in 2014. In November, it sold 14,712 cars, down from the November 2014 figure of 15,263. Its fastest selling models include the City (6,342 units), Amaze (4,106) and Jazz (3,367).