Ad
Ad
Honda Elevate prices soar by up to Rs 58k. Despite the hike, it remains a pivotal force in Honda's SUV success.
In a move that may impact the compact SUV market, Honda has announced a price hike for its popular model, the Elevate, effective from January 2024. The Japanese automaker has also increased the prices of its other car models. Until December 23, 2023, an introductory offer price was in effect for the Elevate. However, due to the rising production costs, Honda has decided to adjust its pricing structure.
The Honda Elevate, previously available at an introductory price of Rs 10,99,900, now witnesses a price increase. The base SV MT variant sees the most significant jump, now priced at Rs 11,57,900, reflecting a hike of Rs 58,000. Other variants, including V MT, V CVT, VX MT, VX CVT, ZX MT, and ZX CVT, experience a fixed increase of Rs 20,000 each. The top-spec variant now stands at Rs 16,19,900.
As the Elevate has secured a position among the top 5 bestsellers in the compact SUV segment, the price hike may influence its market standing. Honda's SUV has outperformed competitors like Toyota Hyryder, Skoda Kushaq, and Volkswagen Taigun but still trails behind Hyundai Creta, Kia Seltos, and Maruti Grand Vitara. Comparatively, the Elevate base variant is now costlier than the base models of its main rivals.
A closer look at the market reveals that the Elevate base variant now surpasses the starting prices of Hyundai Creta, Kia Seltos, and Maruti Grand Vitara. However, the gap may narrow as the competitors are also expected to increase their prices. Hyundai is set to launch a new Creta, and Maruti Grand Vitara plans to raise the prices across its range in January.
Despite the price hike, the Honda Elevate still continues to drive the brand's growth, achieving a remarkable 20,000 sales milestone in just 100 days. With a market share of 10.84% by November, Elevate contributes to over 50% of Honda's overall sales, resulting in an 11% year-on-year sales growth from September to November.
Looking ahead, Honda aims to bolster its SUV lineup with the launch of four new models by 2030 under Project ACE. Notably, an electric version of the Elevate is in development, sharing the platform and design with its internal combustion engine counterpart. Positioned as Honda's first Battery Electric Vehicle (BEV) for the Indian market, the Elevate EV will compete with rivals such as MG ZS EV and Mahindra XUV400, along with upcoming models like Hyundai Creta EV and Tata Curvv. Manufactured in India, the Elevate EV is also set to be exported to international markets.
Also Read: 2024 Hyundai Creta Facelift Interior Revealed: Multiple New Features Confirmed
While the price hike might pose a challenge for the Honda Elevate in the competitive SUV market, the model's strong sales performance and the upcoming electric variant indicate that Honda is strategically positioning itself for the evolving automotive landscape. As the industry moves towards electric mobility, the Elevate EV could be a key player for Honda in capturing the growing market for electric SUVs.
Ad
Ad
Carbike360 Weekly Wrap Up | GNCAP Crash Test, New Launches and more
Stay updated with Carbike360 Weekly Wrap Up featuring GNCAP Crash Test results for popular car models like Bolero, Carens, and Amaze. Explore new launches and more.
28-Apr-2024 01:30 PM
Read Full NewsCarbike360 Weekly Wrap Up | GNCAP Crash Test, New Launches and more
Stay updated with Carbike360 Weekly Wrap Up featuring GNCAP Crash Test results for popular car models like Bolero, Carens, and Amaze. Explore new launches and more.
28-Apr-2024 01:30 PM
Read Full NewsDucati Hypermotard 950 RVE Introduces New Graffiti Evo Color Option
Ducati unveils the Hypermotard 950 RVE in India with the vibrant Graffiti Evo color, accentuating its youthful appeal. Packed with advanced features and a powerful engine, it promises an exciting ride.
26-Apr-2024 11:52 AM
Read Full NewsDucati Hypermotard 950 RVE Introduces New Graffiti Evo Color Option
Ducati unveils the Hypermotard 950 RVE in India with the vibrant Graffiti Evo color, accentuating its youthful appeal. Packed with advanced features and a powerful engine, it promises an exciting ride.
26-Apr-2024 11:52 AM
Read Full NewsToyota India Enters into Car Care Market With T-Gloss; Plans to Rival 3M; Check Details
Toyota Kirloskar Motors plans to pioneer car care services in India with T-Gloss. Offering comprehensive detailing, protection, and customization options, T-Gloss enhances vehicle aesthetics and longevity. Available at all authorized Toyota dealerships, it reflects Toyota's commitment to customer satisfaction and quality maintenance. With trained professionals and tailored solutions, Toyota sets a new standard in car care services, ensuring a seamless ownership experience for customers.
26-Apr-2024 11:45 AM
Read Full NewsToyota India Enters into Car Care Market With T-Gloss; Plans to Rival 3M; Check Details
Toyota Kirloskar Motors plans to pioneer car care services in India with T-Gloss. Offering comprehensive detailing, protection, and customization options, T-Gloss enhances vehicle aesthetics and longevity. Available at all authorized Toyota dealerships, it reflects Toyota's commitment to customer satisfaction and quality maintenance. With trained professionals and tailored solutions, Toyota sets a new standard in car care services, ensuring a seamless ownership experience for customers.
26-Apr-2024 11:45 AM
Read Full NewsVolkswagen Tayron Breaks Cover At Beijing Motor Show, India Debut Expected in 2024; Details
The VW Tayron, unveiled at the 2024 Beijing Motor Show, is set to captivate both Chinese and Indian markets. Sporting a dynamic design language with blacked-out elements and a powerful 2.0-litre turbo-petrol engine, it promises an exhilarating driving experience. With its impending launch in India in 2025, it's poised to challenge the likes of the Jeep Meridian and Skoda Kodiaq, igniting fierce competition in the SUV segment.
26-Apr-2024 09:39 AM
Read Full NewsVolkswagen Tayron Breaks Cover At Beijing Motor Show, India Debut Expected in 2024; Details
The VW Tayron, unveiled at the 2024 Beijing Motor Show, is set to captivate both Chinese and Indian markets. Sporting a dynamic design language with blacked-out elements and a powerful 2.0-litre turbo-petrol engine, it promises an exhilarating driving experience. With its impending launch in India in 2025, it's poised to challenge the likes of the Jeep Meridian and Skoda Kodiaq, igniting fierce competition in the SUV segment.
26-Apr-2024 09:39 AM
Read Full NewsAffordable Bajaj Chetak e-scooter Images Leaked Ahead of Launch
Bajaj Auto gears up to unveil a new budget-friendly variant of its Chetak e-scooter, featuring strategic changes like steel wheels and a monochrome display.
26-Apr-2024 07:03 AM
Read Full NewsAffordable Bajaj Chetak e-scooter Images Leaked Ahead of Launch
Bajaj Auto gears up to unveil a new budget-friendly variant of its Chetak e-scooter, featuring strategic changes like steel wheels and a monochrome display.
26-Apr-2024 07:03 AM
Read Full NewsCritical Flaws Highlighted in Xiaomi SU7: 8 Reasons for Concern
Uncover the vulnerabilities in Xiaomi SU7 and understand the 8 reasons for concern. Keep your device secure with essential insights.
26-Apr-2024 06:57 AM
Read Full NewsCritical Flaws Highlighted in Xiaomi SU7: 8 Reasons for Concern
Uncover the vulnerabilities in Xiaomi SU7 and understand the 8 reasons for concern. Keep your device secure with essential insights.
26-Apr-2024 06:57 AM
Read Full NewsAd
Ad
BMW i5
₹ 1.19 Cr
Jeep Wrangler facelift
₹ 67.65 - 71.65 Lakh
Aston Martin Vantage
₹ 3.99 Cr
Ferrari Purosangue SUV
₹ 10.50 Cr
Mahindra Bolero Neo Plus
₹ 11.39 - 12.49 Lakh
Toyota bZ4x
₹ 70.00 Lakh
MG 4
₹ 15.00 - 21.00 Lakh
Mercedes-Benz GLC Coupe 2024
₹ 65.00 Lakh
Audi Q8 2024
₹ 1.17 Cr
Nissan X-Trail
₹ 26.00 - 32.00 Lakh
Ad
Ad
Ad