NEW DELHI: Japanese automaker Honda plans to increase prices of its entire model range in India from the next month as it looks to offset the impact of a sharp increase in the procurement cost of various essential commodities like steel and precious metals, according to a senior company official.

The official statement by the Honda Cars India Senior VP and Director (Marketing and Sales) Rajesh Goel  reads:  "The prices for raw materials like steel, aluminium and precious metals have increased sharply and many of them are at an all-time high, impacting our input costs significantly."  "Our endeavour is to keep the cost of acquisition lower, so we are currently deliberating on how much of the additional cost we can absorb and how much will be inevitable to be passed on to our customers. The revised prices will be implemented from next month," Goel noted.

The company, which sells various models, including City and Amaze, is currently working on the quantum of the increase it would pass on to customers. "The prices for raw materials like steel, aluminium and precious metals have increased sharply and many of them are at an all-time high, impacting our input costs significantly," he added..

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