"The reduction in duty will give the necessary boost to consumer demand and fuel growth in the auto industry. We are happy to pass on the benefit of the duty reduction to our customers," Honda Cars India Senior Vice President Marketing & Sales, Jnaneswar Sen said.
The prices have been revised following the reduction in Basic Excise Duty in the interim budget 2014.The new prices will be effective from Feb 19, 2014.
The companys product range includes Honda Brio, Honda Amaze, Honda City and Honda CR-V. Hondas models are strongly associated with advanced design and technology, apart from its established qualities of durability, reliability and fuel-efficiency.
The new range of prices for all models (ex-showroom Delhi) w.e.f. Feb 19, 2014 is as follows:
Rs 399,900 Rs 599,900
Petrol: Rs 499,900 Rs 755,000
Diesel: Rs 597,500 Rs 749,500
Petrol: Rs 719,000 Rs1,080,000
Diesel: Rs 837,000 Rs 1,089,000
Rs 2,025,000 Rs 2,436,000
Other auto makers also slashed prices on Wednesday across models and variants, hoping to revive sales in a year marked by a tepid consumer demand so far.
Responding to the 3-6% excise duty cuts announced by finance minister P Chidambaram in his interim budget, Apart from the countrys top two car manufacturers Maruti Suzuki and Hyundai Motor other players, including Volkswagen, M&M and Fiat, also reduced their prices.
While Marutis price reduction ranges between R8,502 and R30,984 across models, Hyundai lowered its prices between R10,000 and R1,35,300. Marutis entry-level model Alto 800 will now be cheaper by Rs 8,502, costing Rs 2.7 lakh (on-road, Delhi), while the top variant SX4 will be cheaper by Rs 31,000 to Rs 10.3 lakh.
Hyundais entry-level model Eon will now be cheaper by Rs 10,000, to cost Rs 3.10 lakh. Its recently-launched premium SUV Santa Fes top-end variant will be cheaper by about R1.35 lakh and will now cost Rs 29.6 lakh.
Mahindra & Mahindra said the price reduction for its vehicles is between R13,000 and Rs 49,000. Accordingly, the price range will now be between Rs 6.7 and Rs 17.3 lakh against the earlier Rs 6.9 and Rs 17.8 lakh. The company also lowered prices of its premium SUV, Rexton, by up to R92,000.
Fiat said its cars would now be Rs 8,000-Rs 12,000 cheaper, depending on the variants. The company sells the Punto and Linea models in the country. Volkswagen cut prices of its cars in India in the range of Rs 14,500 and Rs 51,000.
On the luxury front, Mercedes-Benz India said its C-class Avantgarde edition will now cost R39.35 lakh, down from R39.90 lakh. The GL-class SUV will now cost R2 lakh less.
In the two-wheeler sector, Honda Motorcycles and Scooters India has reduced prices by R1,600 on the Dream Neo and going up to R7,600 on the CBR 250R. Hero MotoCorp models will become cheaper by 4-6% with the maximum being up to Rs 4,500.
The excise duty has been cut to 8% from 12% for small cars, scooters, motorcycles and commercial vehicles; 24% from 30% for SUVs; 20% for mid-sized cars from 24% and 24% for large cars from 27%.