I have bought a brand new v2 in February 2016. Have driven 7500 km on this car. Here is my review.
I have bought it in white color and have changed the seat covers to light and dark grey leatherite custom made covers. I have also installed door rubbers from local market for wind noise. I have changed the stock CD player with Chinese Almani dvd player. Have also changed the front door speakers and have added two speakers on custom made phatta with matching leatherite covering. Roof light is also changed with much brighter white LED. Rest is stock.
Regarding the drive, it's absolutely amazing keeping in view the power of 1300 cc engine in such a small body. ABS breaks are extremely responsive and kicks in whenever there is need. I also drive city 2014 and somehow I feel better control in this car maybe because of small size and extremely easy maneuvering of whole car. Seats feel Slightly higher than city and this might be the reason of better vision in front and overall control.
The interior of the car is spacious specially front seats. If you drive alone or only with front passenger then by slightly reclining the seats back, the space in front is as good as in Honda city. I have no complaints regarding the plastic of dash board or whole interior. Rather after getting the matching Leatherite poshish I am liking the interior much better than stock.
Before installing door rubbers there was extreme wind noise at speeds above 80 km/H however now even at speed of 120 there is absolutely no wind noise but engine noise above 100 is considerable.
Horn is somewhat like a truck but I am enjoying the different feel of horn too.
There is absolutely no vibration even at speed of 120 and car feels extremely stable.
Regarding noises at bumpy roads, initially there were some minor noises from boot but after I tied the tool bag properly with the attached strings there is no noise from dash board or boot.
Its also good to get the nuts and bolts tightened up at every oil change cuz that feels like removing any minor sounds at rough bumpy roads.
There is some on and off very feeble vibration noise coming from silencer which occurs when we are pushing the accelerator.I have checked it on high ramp and it seems like the rubber mountings of whole exhaust system is slightly elastic which allows the vibration. However Its too feeble which might not be noticed if Ac is on high speed.
Regarding Air conditioner it's good with powerful throw at high speeds but it has considerable noise too at high speeds. You can say that noise at highest speed is same as in alto 2007 at highest speeds.
Seats are extremely comfortable and the aftermarket poshish has added to the soft foamy effect.
Regarding fuel mileage it was giving me 13 to 14 km/l without ac in city and 11 to 12 km/Liter with ac in city these days.
The door closing have that cheap sound of metallic knock and it is slightly reduced by rubbers but still I feel door closing is not upto mark.
Hand break in this car is not effective at extreme steeps. I have got it checked at dealership twice and they have done some adjustments but still it's not upto mark. May be it's the problem in my car only or all other have the same problem too?
There is also a metallic knock when the steering wheel is turned fully to one side. It seems like further rotation of steering wheel is stopped by some metal piece.
Overall in conclusion I would like to say that in 10 lac 90 thousand rupees (including registration) this is the best car one can get. No other car in this price range comes even closer to this vehicle. Regarding new wagon r, I would definitely say that drive your self both cars and then feel the difference. The comfort of drive cuz of larger engine and shape of car and ABS breaks is enough to choose v2 as a daily ride.
Regarding the airbags and protection, the topic is already beaten to death in this thread so no need for elaborating that point.
Potential buyers can think in this way that it's not Honda City but at the same time cultus, alto, wagon r is no match to this car in this price range. I am no enthusiast of JDM cars cuz of there unknown history and being refurbished so no comparison with JDM cars.
Few pictures of my ride below



