Honda Siel Cars India (HSCI) today launched a new version of its compact car, 'Jazz', priced lower than its existing model at Rs 5.50 lakh to Rs 6.06 lakh (ex-showroom, Delhi).

"During the first couple of years, the company has focused a lot on localisation and cost-down activities through the R&D function in India. The new Jazz with attractive pricing will surely appeal to the customers and expand the base of Jazz," HSCI Director (Marketing) Seki Inaba told reporters here.

The existing 'Jazz', which was launched in 2009, is available at a price tag between Rs 7.12 lakh and Rs 7.56 lakh.

The new model will be powered by a 1.2-litre petrol engine and will give mileage of 16.7 km per litre.