New Delhi: Intensifying competition in the fast-growing compact SUV segment, Honda Cars India today launched seven-seater compact SUV BR-V priced between Rs 8.75 lakh and Rs 12.9 lakh (ex-showroom Delhi).
The model will compete with the likes of Hyundai Creta and Renault Duster, which are priced between Rs 8.46 lakh and Rs 14.5 lakh (ex-showroom Delhi). The petrol variants of BR-V are priced between Rs 8.7 lakh and Rs 11.84 lakh while diesel ones are between Rs 9.9 lakh and Rs 12.9 lakh. The automatic variant of the SUV is priced at Rs 11.99 lakh (all prices, ex-showroom Delhi).
"With the launch of BR-V, we are getting into the fast-growing compact SUV segment. With its versatile features, we see a huge potential for the vehicle in the country," Honda Cars India (HCIL) President and CEO Yoichiro Ueno told reporters here.
India is a key market for Honda and as part of business expansion, the company is focusing on increasing its customer base with new model introductions, he added.
"We are confident that BR-V will strongly appeal to customers and accelerate our growth while strengthening our brand presence in the country," Ueno said.
The compact SUV segment has been one of the best-performing segments in the Indian passenger vehicle market, growing at around 35 per cent for the past two years.
On the Indian market, Ueno said the country has huge potential for growth. He also outlined the challenges being faced by automakers in the country.
"Last year was tough for the industry, and growth was achieved mainly by new product launches and discounts," Ueno said, marking out the rapid shift from diesel to petrol and introduction of infrastructure cess also impacting the industry.
"Despite all these challenges, we are confident of achieving strong growth in the current fiscal." The company also plans to expand its sales network to 340 dealerships in the current fiscal, from the current 298. "It will help us penetrate into new regions and offer better services to customers," Ueno said.
The new model, which will be manufactured at the company's Tapukara plant, comes with a class-leading 210-mm ground clearance.
The petrol variant of the SUV comes with a new 6-speed manual transmission while the diesel version is equipped with
The BR-V comes equipped with dual airbags as a standard offering across variants, along with a host of other features. Honda is in the process of investing Rs 380 crore in expanding Tapukara production capacity to 1.8 lakh units annually, from 1.2 lakh units.