Wednesday, 12 November 2008

Honda cuts ‘Civic Hybrid’ price by Rs8.14 lakh

Honda slashed the price of the car to Rs13.36 lakh from Rs21.50 lakh earlier for a limited period, till December this year

Carmaker Honda Siel Cars India (HSCI) on Wednesday slashed the price of its eco-friendly sedan, Civic Hybrid, to Rs13.36 lakh (ex-showroom, Delhi) from Rs21.50 lakh earlier for a limited period, till December this year.

“There was a huge response from customers, who wanted to buy the car, but they were unable to do so because of the high import duty cost. As our priority is to popularise the technology, we have decided to cut the price for a limited period,” HSCI Vice-President (Marketing) Jananeswar Sen said.

He said part of the cost would be borne by the company and a limited number of units would be imported during the offer period.

Till last month, the company sold 60 units of the ‘Civic Hybrid’.

Sen said HSCI, which is constructing its second plant in Tapukara in Rajasthan, is having a review of its investment plans keeping in mind the current market slowdown.
“We have already invested Rs600 crore in the first phase out of the committed Rs1,000 crore at the plant. The remaining amount is supposed to be invested for car assembly, which we are reviewing now,” he said.

The company was analysing the market situation before going ahead, Sen added.
He, however, said the company’s plan to roll out its hatchback ‘Jazz’ by mid next year is on track.

Source: Livemint

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