Honda Elevate Expected Vs Actual — Price Reaction | V3Cars

12 September 2023
By Mahesh Yadav
0

In this article, we’ll take a look at the Honda Elevate’s launch prices and see how close (or off) we were from our expected prices. This will help us better understand Honda’s pricing strategy and that of other upcoming cars with similar body style in this price range.

Expected vs Launch Price Comparison

We were expecting to see the Elevate start with an ex-showroom price of more than Rs. 12.0 lakh for the base variant. The final price turned out to be Rs. 11.0 lakh, which is 9.84% lower than our estimate. The closest we came was with the ZX petrol-manual, which was still 5.10% off our estimates. In terms of absolute amount, our estimates were off by up to Rs. 1.40 lakh in the case of V petrol-automatic.

HONDA ELEVATE EXPECTED VS LAUNCH PRICE COMPARISON (Ex-Showroom)
Variant	Expected Price	Difference	Launch Price	Deviation
SV petrol-manual	Rs. 12,20,000	Rs. 1,20,100	Rs. 10,99,900	9.84%
V petrol-manual	Rs. 13,30,000	Rs. 1,19,100	Rs. 12,10,900	8.95%
VX petrol-manual	Rs. 14,50,000	Rs. 1,00,100	Rs. 13,49,900	6.90%
ZX petrol-manual	Rs. 15,70,000	Rs. 80,100	Rs. 14,89,900	5.10%
V petrol-auto	Rs. 14,60,000	Rs. 1,39,100	Rs. 13,20,900	9.53%
VX petrol-auto	Rs. 15,80,000	Rs. 1,20,100	Rs. 14,59,900	7.60%
ZX petrol-auto	Rs. 17,00,000	Rs. 1,00,100	Rs. 15,99,900	5.89%

Also Read: Honda Elevate Expected Price With Updated Calculation - With Logic

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Price Reaction

As you can see, our estimates were butchered with the final launch prices of the Elevate deviating as much as 9.84% from our expected prices. The Elevate turned out to be considerably cheaper than our expectations.

We didn’t have a variant-wise list of features to estimate the price gap between each variant using our proprietary ReSearch algorithm. Considering that the City’s SV variant also gets touchscreen infotainment, we were expecting the Honda Elevate SV to compete against the 2nd-from-bottom variant of the Hyundai Creta, Kia Seltos and Maruti Grand Vitara.

Since the City also gets ADAS in V and higher variants, we were expecting to see this feature in the Elevate’s comparable variants as well. After the launch, we found out that the ADAS features are reserved for only the top variant of the Elevate. This is an odd move as ADAS is what sets the City apart from its C2-segment sedan rivals. It could have become a differentiating factor for the Elevate as well.

Just a few days ahead of the launch, walkaround videos of the various variants of the Elevate started to pop online. Once we noticed that the Elevate’s base variant didn’t have a music system and that ADAS was exclusive to the top variant, it was too late. We could tell that our prices would be off by a substantial margin. But, there just wasn’t enough time to scan through each variant walkaround video manually, list out all features and run them through our algorithm.

With the base variant starting at Rs. 11.0 lakh, the prices of our top variant also ended up with a deviation of around 5-6%.

Learnings

The Rs. 11.0 lakh starting price suggests that Honda are going all in on the Elevate. It’s a make-it-or-break-it product for Honda to sustain their operations in India. With these prices, Honda could sustain a volume of well over 3,500 units a month for the Elevate. 3,500 units was the estimate we got from Honda officials when we drove the Elevate during a media event.

HONDA ELEVATE 2023 EX-SHOWROOM PRICE
Variants	1.5L Petrol-Manual	1.5L Petrol-Auto
SV	Rs. 10,99,900	-
V	Rs. 12,10,900	Rs. 13,20,900
VX	Rs. 13,49,900	Rs. 14,59,900
ZX	Rs. 14,89,900	Rs. 15,99,900

Besides a more aggressive pricing strategy, the Elevate’s feature distribution is also a lot different than the City’s. Thus, for the subsequent launches, we’d have to keep an eye on any details surfacing on the web and calculate the feature cost for each variant as soon as we can.

Also Read: Updated: New Tata Nexon Variant-wise Expected Price - With Logic

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