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Honda Joins Auto Manufacturers In Price Hike Trend For January 2024

Increasing costs are attributed to higher input costs and higher raw material prices

5th Gen Honda City

In a move aligned with industry trends, Honda Cars is set to raise prices alongside Maruti Suzuki, Audi, Mahindra, Tata Motors, Renault, Citroen, MG Motors, and Jeep starting January 2024. The decision stems from rising input costs and an uptick in the prices of essential raw materials.

Kunal Behl, Vice President (Marketing and Sales) at Honda Cars India, commented on the impending change, stating,

"The model-wise amount of increase will be finalised by the end of this month. Our new model, Elevate, which was launched at an introductory price, has been well received by the market with very high customer consideration. The introductory price will be valid until December 2023 and the price will be revised in January 2024,” as reported by PTI.

Notably, Honda recently reported a 22 per cent surge in sales for the month of November. The Japanese auto manufacturer currently offers three models in the Indian market: the fifth-generation Honda City with e:HEV, a hybrid variant of the Honda City; the Amaze compact sedan and the newly unveiled Elevate SUV.

The advice to prospective car buyers is simple: given the impending price increase in January 2024, now might be a good time to make that new car purchase.



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