Japanese two-wheeler manufacturer Honda has once again announced to increase the price of its vehicles in the Indian market. Recently, the company had increased the price of its scooters and bikes. According to media reports, this time Honda’s vehicles will be increased by about Rs 2,000.
Citing rising raw material and fuel prices, the Japanese manufacturer has decided to have a partial impact on customers. The new prices will be implemented from July 3, 2021, which can be around Rs 2,000 (on-road price, Pune). Let us tell you that the business environment remains challenging due to increasing input cost in manufacturing of vehicles and in such a situation companies are increasing the prices of vehicles.
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Honda’s current vehicle lineup ranges from the Activa automatic scooter to sport bikes with heavy engine capacity like the CBR series. Recently, the company launched H’ness CB350 in the market, when this bike was introduced, its initial price was fixed at Rs 1.85 lakh. Recently, the company increased its price, after which its initial price has gone up to Rs 1.90 lakh.
There has been a huge decline in the sales of Honda due to the lockdown. Last month, Honda saw a 28 per cent year-on-year decline in domestic sales with the company selling just 38,763 units as against 54,000 units during the same month last year. There has also been a huge decrease in the sales of the company’s best selling scooter Activa. Vehicle sales are expected to show an improvement in this month of June.