New Delhi, March 20 Automaker Renault India on Thursday announced that it will raise the prices of all its car models by up to 2 per cent, starting April.
The price increase will vary depending on the model and variant. The company said that the decision was made due to rising production costs, which it has been absorbing for a long time.
"Despite our best efforts to maintain prices for a long time, the sustained increase in input costs has necessitated this price adjustment," said Renault India Country CEO and MD, Venkatram Mamillapalle.
He added that the company has been absorbing these costs for a long time to support customers, but to continue providing the best quality and innovative products, a price revision has become inevitable.
This will be Renault's first price hike in India in over two years. The last time the company increased prices was in February 2023.
The price hike will impact popular Renault models such as the Triber, Kiger, and Kwid, according to the official statement.
The Triber, which is one of the most affordable MPVs in India, currently has a starting price of Rs 6.09 lakh (ex-showroom) and is also available with a CNG option.
The Kiger, Renault’s SUV offering, also starts at Rs 6.09 lakh (ex-showroom) and comes with a turbo petrol engine option.
The Kwid, which is the smallest and most affordable Renault model in India, has a starting price of Rs 4.69 lakh (ex-showroom).
Several other car manufacturers, including Hyundai, Kia, Honda, Tata Motors, and Maruti Suzuki, have already announced price hikes due to increasing input costs.
These revised prices will also come into effect in April 2025. Additionally, reports suggest that luxury carmaker Mercedes-Benz may soon announce a price hike in the Indian market.
According to media reports, automobile manufacturers are struggling with rising costs of raw materials, logistics, and production. Global supply chain disruptions and increasing demand have further pushed up material prices.
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