With a bad economy and slower production, it looks like Honda Siel Cars India is left with no choice but to raise the prices of their cars to survive this economic turmoil. This was announced by the president and chief executive of Honda Siel Cars India Ltd. late Saturday evening at a company awards function.
Honda Siel is working out the price increase for the other models but customers who had ordered the new model of the Honda City will be protected. Launched in November, the City, which has sold 12,233 units, helped Honda lessen the impact of the slowdown.
The Honda Siel CEO sees the downturn lasting for another six months and points out that his firm caters to buyers in the premium segment, where the impact of an economic slowdown is tempered. Even so, “customers are concerned with global economy so they have become naturally cautious”, he said.
(Source) Livemint.com
Tags: car prices, economic slowdown, Honda, honda city, honda siel cars, honda siel cars india