Honda to price compact Brio below Rs 5 lakh

Honda to price compact Brio below Rs 5 lakh

Honda, Japan's famous automaker, is back with a new vigour in the Indian Market. The company has revealed Honda Brio and is expected to be priced below Rs. 5 lakh in the Indian market. Honda has promised to bring more cars to India to boost its less-than-impressive numbers in one of the world's fastest-growing markets. The company said Brio will be an important product for its India strategy. Honda is also understood to be considering a sedan version of the car and it is refused to confirm by the company officials. The new Honda Brio will compete with models like new Nissan Micra, Toyota Etios, Volkswagen Polo, Chevrolet Beat and old established models like Maruti Swift and Hyundai i10. It will be powered by a 1.2L petrol engine. According to Honda Motor global president and CEO Takanobu Ito, India is a very, very important market for Honda and the company would like to participate in the rapid pace of motorization in the country with the start of Brio. The new Honda Brio has been developed to conform to Thailand's Eco Car programme initiated by the government and meets strict emission norms and fuel efficiency targets. Brio is developed for Asian markets and is scheduled to debut in Thailand and India next year. Honda, which sells premium cars in India, failed to keep pace with the domestic market that shot up more than 30% this fiscal. The company's numbers in the period grew 3%. Honda's next plan is to bring the Honda Civic in a new look, codenamed 2HC. Presently, the demands of diesel vehicles is rising as Honda manufacturer is looking ahead to come with its diesel vehicles by next year. Expected to be launched in the domestic market by 2012 is the diesel variant of Honda CR-V.

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