Desperate times call for desperate measures. After losing out to Volkswagen's Vento, Japanese carmaker Honda is striking back by slashing prices and improving features of its flagship City sedan.
This will pit the sedan, which had been a market leader for many years, in direct competition with Hyundai Verna and Volkswagen Vento that are also priced at Rs 6.99 lakh.
"We are adding features and cutting prices to make our cars more realistic to the prevailing competition in the market," Seki Inaba, who took over as director (marketing) at Honda's India subsidiary in March this year, told ET.
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