Renault India is considering to hike prices across its models in India. This includes its popular and best-selling small hatchback Kwid as well. The French automaker as cited offsetting input cost as the reason for the hike.
The company is yet to quantify the price hike in the country and it is expected to announce it soon. As per emerging reports on the web, the price hike could be in the range of 1 to 2 percent and this will be across all models.
Sumit Sawhney, managing director and CEO, Renault India said the company will be increasing the prices as input costs have gone up. The company is currently evaluating the period as to when they can exercise the increase.
Renault in India sells five models which include Kwid, Pulse, Scala, Lodgy and its SUV Duster. The company launched the 1.0-litre version of the Kwid which will come under the price hike as well.
The small car from Renault, Kwid has witnessed price hike twice since its launch back in September 2015.
In January 2016, the company had increased the price of the Kwid by Rs 11,000 and then by Rs 9,646 in August this year. Renault launched the Kwid in the 0.8-litre model initially and later launched the 1.0-litre recently.
The price hike in the car industry has seen Tata Motors, Hyundai, Honda, and Maruti Suzuki announcement as well citing the similar increase in the input cost.
While Maruti Suzuki hiked the prices in the range of Rs 1,500 to Rs 20,000 depending on the model, Hyundai had increased the prices its models by up to Rs 20,000.
Later Honda increased prices by up to Rs 14,250. Tata Motors had hinted at the price hike in the range of 1 percent and is yet to confirm the actuals.