Premium carmaker Honda Siel Cars India Ltd is likely to price the new version of its largest selling model City at around Rs 10 lakh.
Company dealers said they would start accepting bookings for the new version of City later this month or early October. The new City would be equipped with a 1.5L i-VTEC engine, which will facilitate greater output and consume lower amount of fuel.
The company currently sells City with two 1.5L engine variants — i-DSI and VTEC. “We would start taking bookings for the car from this month-end or early next month (October) and the delivery would start from November onwards,” a Bangalore-based dealer said.
When contacted, a senior Honda Siel official said, “Please, give us some time. We will let you know at the appropriate time.” Honda Siel currently sells the City sedan priced between Rs 692,000 and Rs 877,000, ex-Delhi.
Dealers said along with a new engine, there would also be some changes in the design of the vehicle. Honda sold 2,763 units of City sedan in August. Meanwhile, Honda Motor Co today commenced sales of its new City sedan in Thailand.
According to a source, Honda Automobile Thailand is likely to support the start of production of new City in developing countries, including ASEAN markets, India and China. “We source some components for the City from Thailand,” the Honda Siel official said. The new City is expected to give tough competition to Maruti Suzuki’s SX4 sedan, which was launched last year.
During April-August, Honda Siel’s market share of mid-size segment fell to 13 per cent from around 16 per cent in the corresponding period last year. During the same period, Maruti Suzuki’s market share in the segment rose to 27 per cent from 22 per cent last year.