According to the sources, the leading car making company, Honda is planning to increase the price of its vehicle in India from next month and the dealers of the company have been informed about this decision. The Japanese carmaker, which is present in India through Honda Cars India Ltd (HCIL), sells a huge range of vehicles starting from compact sedan to premium SUV. 

A compact sedan, Amaze' current price starts from ₹6.17 lakh while the entry-level CR-V's ex-showroom price is ₹28.71 lakh. A company dealer said that the company is going to hike the prices from January due to pressure on input cost and currency impact. The model wise amount of increase will be intimated to the dealers in early January. 

Many automakers have announced a price hike of their vehicles from next month. Renault India also said last week that it will increase the price of its entire model range by up to ₹28,000 from January. 

Many other companies like Maruti Suzuki, Ford India and Mahindra & Mahindra have already stated about the increased price of their vehicles from January in order to mitigate the adverse impact of rising input costs, especially raw materials and commodity prices. Apart from this, the two-wheeler giant Hero MotoCorp has also announced about the price hike of its vehicles by up to ₹1,500 from January 1, 2021, to offset the impact of rising input costs.

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