Eventually, Honda launched its new 2012 City sedan with cost cut-down of Rs 50,000 (India)

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In a surprising move, the Indian unit of the Japanese auto giant Honda launched the new generation version of its flagship sedan Honda City in the Indian market on Wednesday. Despite carrying a number of cosmetic changes at both exterior and interior fronts, the all new Honda City is about Rs 50,000 cheaper as compared to the cost of previous generation model of the car.

Image Credit: Honda Cars

In June this year, the company had decreased the cost of City sedan by about Rs 66,000, which means the current model of the car is about Rs 1.16 lakh cheaper as compared to the price of Honda City model before the month of June 2010. While the new generation version of the car is available in the price segment of Rs 6.99 lakh to Rs 10.22 lakh (ex-showroom, Delhi), the older version of the car is available between Rs 7.49 lakh and Rs 9.89 lakh. The car is currently facing stiff competition with the likes of Volkswagen Vento, Maruti SX4, Ford Fiesta and Hyundai Verna.

While speaking to the reporters at the occasion of launch, HSCI Director (Marketing) Seki Inaba said, "Our target is to offer a product as affordable as possible to customers. So we have launched a new Corporate Edition of the City that does not have some features, and we have cut the prices from the earlier entry-level version."

This the fourth generation of Honda City in the Indian market, The third generation model was launched in the country in year 2008, and the company has sold over 1.36 lakh cars of this car in the country. The deliveries of new generation Honda City model will be started from January 2012.