Renault India, the Indian arm of the French automobile manufacturer Renault has announced its decision to hike prices across its car portfolio in India from the month of January 2014. The reason stated for the price hike is high input costs, the same reason as stated by most carmakers announcing price hikes from January 2014.
The French carmaker currently sells a total of 5 car models in India. Commenting on the price hike decision, Mr. Sumit Sawhney Executive Director Sales and Marketing Renault India stated that various macro economic factors such as increasing rates and high input costs, the carmaker has decided to increase prices from January 2014 as per the industry standards.
The price hike follows the announcement by Nissan, Renault’s global alliance partner to increase car prices by 2-4 percent attributing the depreciation of the Indian Rupee and the rising input costs.