Renault to hike vehicle prices by 1.5 percent

Renault to hike vehicle prices by 1.5 percent

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Auto giant Renault India will be following other big names such as Chevrolet, Nissan and Honda in raising the prices of its vehicles from January 2013. The auto makers in India are being forced to increase the prices of their vehicles due to rising input costs and rupee depreciation.

Renault will be increasing the prices of its vehicles by 1.5 percent across its range, which includes the Pulse hatchback, Scala mid-sized sedan, Duster SUV, Koleos SU and Fluence D-Segment sedan. The prices of Renault cars in India range from Rs. 4.27 lakh ex-showroom for the entry level Pulse to the Rs. 23 lakh (ex-showroom – Delhi) for the Koleos.

Sumit Sawhney, the executive director of sales and marketing for Renault, while talking about the price rise said, “We have to follow suit with the rest of the industry as input costs have gone up tremendously. We tried to absorb the increase as much as possible, but now we are forced to pass on some of the burden to our customers as high input cost coupled with high inflation are all eating in to our bottom line.”

Sawhney added that the company has tried their best to keep costs at a level where it would not impact demand and are sure that customers will still see a lot of value in their products.