Honda cuts City, Accord prices

Honda Siel Cars India (HSCIL) today announced reduction in prices of its models  - Honda City and Honda Accord - following the cut in customs duty cut announced in the budget yesterday.

As per the price cut effective from today, Honda City 1.5Exi would cost Rs 6,49,500, Honda City Gxi would cost Rs 6,99,500 and City CVT would be priced at Rs 7,59,500 (ex-showroom Delhi).

While the manual variant of Honda Accord VTI-l would now cost Rs 14,71,000, the automatic variant would be priced at Rs 15,42,000. Honda Accord V6 would now cost Rs 16,99,001.

The budget has proposed reduction in the peak rate of customs duty by 5% to 15% - a move that would benefit auto companies selling cars in India through the CBU or CKD routes.

H Yamada, president and CEO of HSCIL, said: "The 5% cut in the peak customs duty is a welcome move from the government. We are extremely pleased to pass the benefit of the duty cut to our customers."