Renault India to hike prices across models from Jan to offset input costs

Carmaker Renault India on Wednesday said it will increase the prices of its vehicles across models from the next month to partially offset rising input costs.

The company -- which sells small car Kwid, multi-utility vehicle Triber and compact SUV Kiger with prices ranging from Rs 4.64 lakh to Rs 10.62 lakh -- however, did not disclose the quantum of its impending price hike.

"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," Renault India said in a statement.

The company asserted that India is a key market for it and has a long-term strategy to grow the brand with plans to "bring several new innovations in products and services for the diversified Indian customers".

Together with launching products of global repute, the company said, "Renault has a strong 'India strategy' with a heavy emphasis on localisation in its current and future range of products, offering customers a compelling value proposition".