Renault India is planning to hike prices of its passenger vehicles by up to 2 per cent to offset rising input costs.
“Yes, we will be increasing the prices as input costs have gone up. We are currently evaluating the period as when to undertake the exercise,” Renault India Operations Country CEO and MD Sumit Sawhney told PTI when asked if the company planned to raise the prices.
Asked about the quantum of price hike, he added: “It is generally in the range of 1-2 per cent.”
Renault India, which is a fully-owned subsidiary of France’s Renault SAS, sells five models — Kwid, Pulse, Scala, Lodgy and Duster — priced between Rs 2.64-13.77 lakh (ex-showroom Delhi).
Tata Motors also plans to increase prices of its passenger vehicles during the ongoing festive season to offset rising input cost.
Another homegrown rival, Mahindra & Mahindra, has already hiked prices of some of its passenger and small commercial vehicles by up to 1 per cent from this month.
Hyundai Motor and Maruti Suzuki have already hiked prices by up to Rs 20,000 across models in India.