INDIA: Honda hacks hybrid price 61%
Honda Siel Cars India has slashed the price of its Civic Hybrid 61% to INR1,336,000 ($US27,175) until December.
HSCI marketing chief Jananeswar Sen said many customers had wanted to buy the car but were unable to do so because of the high import duty.
"As our priority is to popularise the technology, we have decided to cut the price for a limited period," he said.
Part of the discount would be borne by the company and a limited number of units would be imported during the offer period.
Honda Siel had sold 60 units to the end of October.
Sen told local media HSCI, constructing its second plant in Tapukara in Rajasthan, is reviewing investment plans in light of the current market slowdown.
The company has so far invested INR6bn in the first phase of INR10bn committed to the plant. The remainder is for car assembly but that is now being reviewed.