Renault India has announced a price hike of up to 2% across its model range, beginning in June to August. Price hikes are due to increased input costs and severe inflation in recent months, particularly in import or production costs. Such increases from other brands include Maruti, Tata, Hyundai, and Kia, which have confirmed their marks for the coming weeks.
Renault India Announces Price Hike from Next Month: What Should Know
If you plan to buy a Renault car in India, then you might just need to be leery. The French automaker will increase prices across its entire model range by up to 2% starting next month. The actual price increase will depend on the model and variant.
Most leading automakers, including the likes of Maruti Suzuki, Tata Motors, Hyundai, and even Kia, have similarly confirmed price hikes because of increased production costs and issues along the supply chain.
Why did Renault Raise Their Prices?
Renault India, in its statement, mentioned the ever-increasing input costs as the most apparent reason for revising its pricing structure. The last few months have seen much car manufacturing for cost upkeep, and their struggle has continued with increasing costs related to raw materials, logistics, and regulatory changes.
Renault playing Country CEO and Managing Director, Venkatram Mamillapalle, said:
"Though our sincere efforts were applied to keeping prices long, the sustained spiking of input costs has forced us to make this price alteration. We have kept consuming these costs to serve our consumers well. However, to maintain supply quality, innovation in products requires a revision of fares."
How Much of Renault's Price Hike Still Matches With Other Brands?
Renault's hike in price will be 2%, which is quite a modest hike when compared with other car manufacturers.
Here are a few instances of its competitor's increase in price:
Maruti Suzuki: 4% is to be increased owing to expensive raw materials and production costs.
Tata Motors: Their cars will witness a price increase of about 1.5% to 2% across the lineup.
Hyundai: Price hike to be flat across some select models, up to 3% increases.
Kia: Price increase to be announced soon, expected to fall under the same patch as a 2% to 3% increase.
Unlike other brands, from February 2023, Renault has not hiked the price. Therefore, it is the first price hike in over a year.
Which Renault Cars will be Affected?
Renault has not made any announcement regarding the actual price increase amount for each model, however, its current line-up in India includes:
Renault Kiger (Compact SUV)
Renault Triber (MPV)
Renault Kwid (Entry hatchback)
The price increase is expected to be diverse across different variants since it will depend on production costs and demand.
Should You Buy a Renault Car Before the Price Hike?
If you've made up your mind about acquiring one of the Renault cars, then you should urgently act before the price increase hits next month. Although Renault's price hike cannot be compared with the competitors, any price rise would be disadvantageous to the buyers, particularly in the budget-oriented and mid-range segments.
Renault is known for its bargain automobile in India, while it is trying to absorb a rise in cost, this revision was long overdue. However, it may be that dealers will provide a price discount or special deals to facilitate sales before the new pricing comes into effect.
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