Renault India to Hike Car Prices by 2% in April

New Delhi, Mar 20 (PTI) Automaker Renault India on Thursday said it will increase prices of its entire model range by up to 2 per cent from April.

The extent of the increase will vary for different variants and models, the company said in a statement.

The decision comes in response to the constantly increasing input costs that the company has been absorbing for a significant period, it added.

"Despite our best efforts to maintain prices for a long time, the sustained increase in input costs has necessitated this price adjustment," Renault India Country CEO and MD Venkatram Mamillapalle said.

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, he added.

This is the first price hike announced by Renault India since Feb 2023, the automaker noted.

Various carmakers, including Maruti Suzuki, Hyundai, Tata Motors, Kia India and Honda Cars, have already announced plans to hike vehicle prices from next month citing rising input costs.