The company currently sells a range of models from hatchback Brio to premium sedan Accord Hybrid, priced between `4.73 lakh and `43.21 lakh (ex-showroom, Delhi).
Officials cited that cost of raw material has gone up in the last few months, but the same is currently being absorbed by the company.
When asked about plans to launch electric vehicles, Kato said they are yet to decide.
In a regulatory filing with the stock exchange, India’s largest carmaker, Maruti Suzuki Ltd, said it had slashed production of passenger vehicles by 18.88 per cent to 1.49 lakh units in May.
The two partners have signed an MoU under which facilities like loans up to 100 per cent of vehicle cost, zero processing fee, down payment of Rs 999 will be offered to customers.
Honda said the closure is not Brexit-driven but "is part of Honda's broader global strategy in response to changes to the automotive industry.
Carmaker to make its diesel engines BS-VI compliant as it believes demand will still prevail
The company plans to upgrade its two diesel engines, which power models like Amaze, City, WR-V, BR-V, Civic and CR-V to conform to stricter BS-VI emission norms.
The recall by Honda Cars India comes a day later German car manufacturer BMW announced recalling over 3.6 lakh cars in China that had been fitted with defective airbags.
With 30 per cent market share, the car sold 46,619 units last financial year against 58,913 units in FY2017-18.
In the fiscal 2017-18, Hero MotoCorp sold 75,87,130 lakh units, while HMSI sold 61,23,877 units.
The body of Saramma, who belongs to the Jacobite faction, was shifted to a mortuary on Monday evening after Jacobite priests were denied entry into the Church.
Honda stated on Thursday that the new executive sedan has received 1,100 bookings in 20 days — equivalent to two months of the entire segment’s sales volume.
HCIL CEO Gaku Nakanishi said it would translate to a growth of 8 per cent from 1.7 lakh units sold last fiscal.
While the car will come with both petrol and diesel options, its accentuated creases, curves, sharp character lines and dollops of chrome that all work to make it stand out in a crowd.