Honda Siel Cars India (HSCI) today annnounced the deduction in the prices of its flagship sedan City by up to Rs 66,000 with immediate effect and will now be available between Rs 7.49 lakh and Rs 9.89 lakh (ex-showroom, Delhi).

"The reduction in the prices is the result of applying cost efficient efforts in the area of supply chain and manufacturing," HSCI said in a statement.

The prices have been dropped down between Rs 44,000 to Rs 66,000 depending on the variant. "This price revision is in line with Honda's global vision of creating products that maximise the joy of customers, with speed, affordability and low CO2," the statement said.

The prices of the base EMT variant has been reduced from Rs 8.15 lakh to 7.49 lakh and top of the line variant, has been reduced from Rs 10.33 lakh to Rs 8.89 lakh.

Commenting on the new price structure, Mr Jnaneswar Sen, Sr Vice President- Sales and Marketing, HSCI, said,"Our R&D function in India (HRAP-I) started working on localisation and cost down activities for our volume models from year 2009."