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Honda Cars launches new CR-V at Rs 19.95 lakh
Honda Cars India Ltd on Tuesday launched an all new version of its sports utility vehicle CR-V which will be cheaper by up to Rs 270,000 from previous model as the company looks to strengthen foot hold in the Indian market.
The vehicle will have two variants powered by 2 litre and 2.4 litre petrol engines priced between Rs 19.95 lakh (approx Rs 2 million) and Rs 23.85 lakh or Rs 2.38 million (ex-showroom Delhi).
"We are entering a new phase in India with the all new CR-V. Over the past few years Honda and its associates have been working on developing new products," Honda Cars India Ltd (HCIL) CEO and President Hironori Kanayama told reporters.
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Honda Cars launches new CR-V at Rs 19.95 lakh
He added: "Some of these new models will come to the Indian market in the next few years. We are committed to bring the latest models from Honda's global portfolio in India."
The CR-V was first launched in India in 2003 as an important model and since sold 13,700 units.
Kanayama said the new CR-V is being assembled at the company's Greater Noida facility. "We are passing on the duty benefit of the new CR-V to the customers," he said.
The previous 2-litre manual transmission variant of the CR-V was priced at Rs 22.65 lakh while the new version will cost 19.95 lakh.
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Complete coverage: Union Budget 2013-14
Honda Cars launches new CR-V at Rs 19.95 lakh
Similarly, the previous 2.4 automatic variant was priced at Rs 24.9 lakh and now the new version has been priced at Rs 22.4 lakh.
The company has also introduced automatic transmission variant with the 2-litre engine option priced at Rs 20.85 lakh.
When asked if the company would change its plan for introduction of diesel vehicles in India in view of the rising diesel prices, HCIL senior vice president Marketing and Sales Jnaneswar Sen said: "It will not be affected. The Amaze sedan will come as per plan. There will still be demand for diesel vehicles."
The entry-level sedan Amaze, which will be launched this year, qualifies for the excise duty benefit, enjoyed by small cars in India and will directly take on Maruti Suzuki's Swift DZiRE, the current undisputed segment leader.