| Honda Siel president and CEO H. Yamada unveiled the CR-V in New Delhi on Friday. Picture by Ramakant Kushwaha
New Delhi, May 9: Amid growing demand for utility vehicles, the Indian arm of automobile major Honda Motor Co today unveiled the CR-V in the sports utility vehicle segment.
The second largest automaker in Japan said it would import the 2.0-litre CR-V as a “completely built unit”.
The four-wheel drive CR-V will cost between Rs 14-15 lakh and will have a power output of 142 bhp. It will generate sales of around 1,000-1,200 units a year, H. Yamada, president and chief operating officer of Honda Siel Cars India Ltd (HSCI), said.
Recently, General Motors had launched the Forester priced at Rs 16-17 lakh, while Suzuki had launched the Grand Vitara costing Rs 15 lakh.
“We would strengthen our presence in the premium segment,” Yamada said. “We are also looking at the B-segment,” he added.
HSCI is expected to introduce the New City and the New Accord model later this year. The New City is based on the international hot-selling subcompact car, Fit. The New Accord would be an upgraded version of the Accord.
HSCI is a joint venture between Honda Motor Co and the Indian Siel Ltd. It currently manufactures and markets three variants of the popular City model along with Honda Accord, a luxury car, priced at Rs 14 lakh.
Yamada said the automaker would clock higher cumulative sales of 20,000 units in the current financial year, April-March, up from 13,000 units sold last year.