has reported that the Honda is considering slashing the price of the City by Rs. 70 thousand to Rs. 1 lakh in order to clear the inventory existing with the dealers as the launch of a new and mildly facelifted version is imminent.  It is also possible that Honda wants to clear the made in 2011 cars as the year is drawing to a close and in the new year, cars made this year will depreciate in value at the dealership itself.