Honda is a leader in premium car segment in India. It has successful models like City, Civic and CR-V which makes its powerful portfolio. Honda, which manufactures most of its components in India, was under the market pressure due to the hike in raw materials price. It could not escape the rise in input costs of the raw materials like rubber and steel.
After having raised the prices of its car in the range of Rs 5000 to Rs 10000 in May, it has now taken a U-turn. Honda Siel Cars India is cutting down rates of all its sedans by Rs 5000. The new price has been introduced from 1st June. The price cut is also in response to the central sales tax cuts by 1% from the existing 3%. The price of the City will be cheaper by Rs 3,000 and the Civic will be available at Rs 5000 lesser cost. The company is in the right tract to attract its customers.
The news sounds great as every car makers is hiking price.It was recently i read that Honda hiked prices for City and Civic and now they they have reduced.this means there the price there is actually not much difference.
Honda is already a premium brand. Raising a few thousands here or there does not affect the market share. Even lowering the cost does not reflect the buyer's cost consciousness. Anyhow a cheaper bargain is always a welcome deal.
A cheaper Honda sounds fantastic. The car manufacture seems to very conscious about price positioning. The manufacturer has been generous on passing on the benefits given by government to consumers. This is at a time when all car buyers are hiking prices.
Honda keeps makes its cars interesting all the time. Not only does it have a good portfolio of cars but also has the best competitive prices. Honda is always ahead of the current market trend. This was witnessed when it raised prices first and was first to decrease prices when government granted concession.
Frankly speaking i does not make any difference even if the prices of Honda City or Civic is gone down.If Maruti or Hyundai reduced the price in small car segment then it would have made some difference.
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