Honda raises prices in S. Korea on firmer yen

SEOUL, Jan. 22 (Yonhap) -- Japan's Honda Motor Co. raised its vehicle prices by as much as 3.1 percent in South Korea due to a firmer yen, the company's Korean unit said Thursday.

Honda, the third-largest carmaker in Japan, increased the price of all models
sold in South Korea, including the Legend sedan, by 1.9 million won (US$1,393) to
68.5 million won.
The price of the CR-V sport-utility vehicle went up 1 million won to 35.4 million
won, the company said in a statement.
The Japanese yen rose 24 percent against the U.S. dollar last year, while the
Korean won fell 26 percent versus the dollar.
The stronger yen hurts Honda's price competitiveness and squeezes the value of
sales in South Korea.
Officials at Honda Korea's public relations team were not immediately available
for comment.
Last year, Honda was the most popular foreign car brand in South Korea with a
total of 12,356 vehicles sold, followed by Germany's BMW AG and Mercedes-Benz.