Honda Siel Cars India will increase the prices of its cars by up to Rs 354,000, owing to fluctuations in the exchange rate of the Indian rupee and Japanese yen against the US dollar.
The car maker will hike the prices of the three models of its largest selling car City by Rs 30,000-35,000 from April 1.
It will increase the prices of the four models of Civic in the range of Rs 50,100-63,000 from the same date, the company said in a statement.
The hike for the three models of its sports utility vehicle CR-V will be uniform at Rs 354,000 from April 1.
The prices of sedan in its portfolio Accord will go up by Rs 100,000-101,000 from March 16.
The increase will be in the range of 4-20 per cent, the company said.
Commenting on the price increase, Honda Siel Cars India vice president marketing Jnaneswar Sen said, "The rupee has depreciated by over 16 per cent versus the US dollar in the past eight months."
"On the other hand, the Japanese yen has strengthened by 10.5 per cent during this period. These currency fluctuations have resulted in tremendous increase in cost of imports impacting the bottom lines."