NEW DELHI: Japanese auto major Honda, which recently slashed price of its Civic Hybrid by about Rs 8 lakh for a limited period, will not import the car further this fiscal as its allotment for India has exhausted.
The company's subsidiary, Honda Siel Cars India had received an overwhelming response to its limited-period price cut offer from November 10-17, selling about 235 units during the week against 60 units since its launch in June.
"What we had planned to sell for the entire fiscal were achieved during the week-long price cut offer. We had placed a limited order with Honda Motor Co Japan and for this fiscal we will not be importing any further Civic Hybrid," a senior company official said.
HSCI had launched the Civic Hybrid, the first of such type of vehicle in India priced at Rs 21.5 lakh in June. In November, it announced a price-cut and reduced the price to Rs 13.36 lakh for a limited period.
Asked if the company would be hike the price of the car next fiscal, considering the fact that it has decided to increase price of most of its products between Rs 10,000 and Rs 1.5 lakh by next year, the official said it is possible.
"We will not be surprised if the Civic Hybrid comes at a higher price next fiscal considering the circumstances. The rupee has depreciated a lot and we are under lot of pressure on imports," the official said.
Citing depreciating rupee, which has depreciated by over 20 per cent since April, as a main reason for concern, HSCI has decided to hike the price of its models.
Its sedan Civic could be dearer by Rs 10,000-20,000 and Accord by up to Rs 50,000, while sports utility vehicle CRV by Rs 1.5 lakh come January next year.
The official, however, said the company's best selling sedan City may not see an immediate hike in prices at it has about 5,000 orders to be delivered, which could extend up to January.
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