Asia Bizz: After the hike in the excise duty in the Budget 2012-13, Honda Siel Cars India has announced on March 21, 2012 that it has increased the prices of all the models by up to Rs 93,975. The company also intimated that the new prices are effective by March 17, 2012.

The price of the entry level hatchback Brio will be increased by Rs 4,000 to Rs 10,000 depending on the variants. So the new Brio will now be available at the price between Rs 3.99 lakhs and Rs 5.2 lakhs ex showroom Delhi.

Even the premium compact car Jazz has been hit by the recent Budget and will now cost between Rs 5.75 lakhs and Rs 6.31 lakh ex-showroom Delhi, as it has been made costlier by Rs 14,972 to Rs 15,000. The popular mid-sized sedan City will be priced between Rs 7.1 lakh and Rs 10.33 lakh ex-showroom Delhi after the prices have been hiked by Rs 5,000 to Rs 10,500.

India’s Finance minister Pranab Mukherjee increased the excise duty to 12 percent from 10 percent. The hike has been set according to the petrol cars with the engines under 1,200 cc and diesel cars with the capacity under 1,500 cc.