Renault India Set to Raise Car Prices by Up to 2% from April
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Synopsis
Renault India has announced a price hike of up to 2% on all car models starting in April. The increase comes after a prolonged period of absorbing rising production costs.
Key Takeaways
- Renault India to increase car prices by up to 2%.
- Decision driven by rising production costs.
- First price hike in over two years.
- Models affected include Triber, Kiger, and Kwid.
- Other manufacturers also raising prices due to similar reasons.
New Delhi, March 20 (NationPress) The automotive company Renault India declared on Thursday that it plans to increase the prices of its entire range of car models by up to 2 percent, effective April.
The adjustment in pricing will differ based on the model and variant. The firm stated that this decision stems from the rise in production costs, which it has been absorbing for an extended period.
According to Venkatram Mamillapalle, CEO and MD of Renault India, "Despite our best attempts to hold prices steady for an extended time, the continuous surge in input costs has made this price adjustment necessary."
He emphasized that the company has been shouldering these costs for a significant time to assist customers, but to keep delivering exceptional quality and innovative products, a price increase has become unavoidable.
This marks Renault's first price adjustment in India in more than two years, with the previous increase occurring in February 2023.
The price rise will affect popular Renault models like the Triber, Kiger, and Kwid, as stated in the official announcement.
The Triber, known as one of India’s most affordable MPVs, currently has a starting price of Rs 6.09 lakh (ex-showroom) and is also available in a CNG variant.
Similarly, the Kiger, Renault's SUV model, starts at Rs 6.09 lakh (ex-showroom) and features a turbo petrol engine option.
The Kwid, Renault's smallest and most budget-friendly model in India, begins at Rs 4.69 lakh (ex-showroom).
Many other car manufacturers, including Hyundai, Kia, Honda, Tata Motors, and Maruti Suzuki, have also disclosed price increases due to rising input costs.
These new prices will also take effect in April 2025. Furthermore, there are reports that luxury automaker Mercedes-Benz may soon announce a price increase in the Indian market.
As per media reports, automotive manufacturers are grappling with soaring costs related to raw materials, logistics, and production. Global supply chain disruptions and heightened demand have further escalated material costs.
