In an effort to clear inventory of the Hybrid Civic Hybrid in India, Honda Siel Cars India (HSCI) has cut the price by almost 40%. The Civic Hybrid pricetag will read Rs13.36 lakh, down from Rs21.50 lakh until December this year.
According to the VP of marketing, the price cut is to stimulate the popularity of the technology
“There was a huge response from customers, who wanted to buy the car, but they were unable to do so because of the high import duty cost. As our priority is to popularise the technology, we have decided to cut the price for a limited period,” HSCI Vice-President (Marketing) Jananeswar Sen said.
Since they have only sold 60 units since hybrids began entering India, some sort of stimulus certainly seems in order.
While I don't have the current monetary conversion, 1 believe 1 lakh is $2500. That's based on my memory and seeing all the stories on the 1 lakh car recently. If that's true, the price was cut by over $20,000. Which means the price of RS13.36 lakh is still over $33,000.
Import duties on cars in India are extremely high.