Honda Siel Cars India (HSCI) shocked the auto industry last week by cutting the price of the Honda Civic hybrid by Rs. 8 lakh, for a limited period. The car was earlier priced Rs. 21.50 lakh. In the five months since its launch, before the price cut, the Civic hybrid had managed to sell only 60 units, owing to its rather forbidding price tag. After the price cut, on the other hand, the company sold 98 units in just 1 day. The hybrid version of the Honda Civic was so much costlier than the petrol version because of the 105 per cent import duty on it.
HSCI is now evaluating whether it can compensate customers who bought the car before the price was slashed. A company spokesperson said, “People have been asking whether existing customers who bought it at the higher price may be compensated and we may take a call on it. We are however not duty bound to do it as we did check with our lawyers whether there is anything illegal with the discount and were told that pricing is completely a manufacturer’s decision.”
