Financial Daily from THE HINDU group of publications
Sunday, Jan 11, 2004
Financial Daily from THE HINDU group of publications Sunday, Jan 11, 2004 |
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Corporate
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Announcements Honda cuts prices of City, Accord Our Bureau
New Delhi , Jan. 10 HONDA Siel Cars India Ltd today cut the prices of its City and Accord cars by 2-3 per cent as the Government reduced the import duty and abolished the special additional duty (SAD). The Honda City EXi model will now be cheaper by Rs 20,000 at Rs 6.47 lakh (ex-showroom Delhi) as compared to Rs 6.67 lakh, while the GXi version will cost Rs 10,000 lesser at Rs 6.97 lakh. The CVT version will now be available at Rs 7.57 lakh as compared to earlier price of Rs 7.67 lakh, a company statement said. Price of Accord VTi-L manual variant has been reduced to Rs 14.65 lakh from Rs 14.95 lakh, while the automatic version will now come at a price of Rs 15.35 lakh from Rs 15.65 lakh. The prices will be effective from tomorrow. Honda is not reducing the prices of its CR-V utility vehicle as appreciation of yen against the rupee and dollar has offset the duty reduction. The Government on Thursday cut peak customs duty to 20 per cent from 25 per cent and removed the 4 per cent SAD. Honda City has about 30 per cent of its components imported, while in Accord, it is 65 per cent. The company sold 2,760 vehicles in December last, registering a growth of 195 per cent year-on-year.
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