Brio: Honda's small car launched at a starting price of Rs 3.95 lakh
Japanese car major Honda today announced its foray into the highly competitive low-price compact car segment in India with the launch of its Brio model, priced between Rs 3.95 lakh and Rs 5.1 lakh (ex-showroom, Delhi).
The company, which is present in India through a joint venture with the Siel group, Honda Siel Cars India, said it is also targeting revenues of Rs 112 crore this fiscal from the export of auto components from India.
"With Brio, we will be entering a new segment for the first time in India. It has been designed and developed specially to meet the needs of customers here," HSCI President and CEO Takashi Nagai told reporters here.
He said the company had promised to price it less than Rs 5 lakh and has been able to do this through cost-efficiency measures and high localisation of components. However, the top-end variant of the vehicle will cost Rs 5.1 lakh.
"The Brio is at present about 80 per cent localised and over the next few months, it will reach 90 per cent," he said, adding, "This has been key to the pricing strategy of the Brio."
The Brio is available in four trim versions and is priced as: