Renault has not disclosed the quantum of price hike it will take on the Kwid, Triber and Kiger.
The Kiger is the volume driver for Renault.
By Auto Today: French carmaker Renault, which sells models like the Kwid hatchback, the Triber MPV and the Kiger compact SUV in India, has announced that it will increase the prices of its vehicles from January 2023 to partially offset the impact of rising input costs.
The Renault Kwid is priced between Rs 4.64 lakh and Rs 5.99 lakh (ex-showroom), the Renault Triber between Rs 5.92 lakh and Rs 8.51 lakh (ex-showroom) and the Renault Kiger between Rs 5.99 lakh and Rs 10.62 lakh (ex-showroom).
However, the carmaker has not disclosed the quantum of price hike it will take on the three models.
In an official statement, Renault said that it will increase prices across its range of cars, effective from January 2023. “Reasons for the price hike are to partially offset the impact of constant increases in input costs largely driven by pricier commodities, fluctuations in foreign exchange rates, inflation and also due to regulatory obligations,” it added.
“India is a key market for Renault, with a long-term strategy to grow the brand in the dynamic Indian market,” the carmaker said, adding that over the last few years, it has focused on establishing a strong base in India, which includes a state-of-the-art manufacturing facility, a world-class technology centre, two design centres, and 500 sales and 500+ service touchpoints.
Renault has a manufacturing facility in Oragadam, Chennai. It has an annual installed production capacity of 480,000 units.
“Going forward, Renault will continue with its product offensive strategy in India and will work towards substantially growing the Renault brand in India. Renault plans to bring several new innovations in products and services for the diversified Indian customers,” it pointed.
India is now the fifth largest market for Renault after France, Germany, Russia and Brazil. So far as the carmaker’s overseas operations are concerned, India accounts for 44% of overall revenue.