Renault has recently announced that there would possibly be a “substantial” increase in the price across its product portfolio in India with the effect from January 2020 owing to a hike in input as well as material costs.
Renault Kwid, Duster, Price Hike From January 2020
Amongst the vehicles that have been sold by Renault in India are the lately launched Triber, Duster, Kwid, Captur as well as Lodgy. The price rise might possibly vary depending on the different model.
In addition to that Renault also said in a recent statement, “A substantial price increase would be done across its range of vehicles w.e.f. January 2020,”
“The price increase is on the account of rising input and material costs. The extent of price increase may vary for different models,” the automobile manufacturer then further added.
On the other hand, Renault had launched the Triber in India in August 2019 which is available in the price range of Rs 4.95 lakh (ex-showroom) and Rs 6.49 lakh (ex-showroom). Furthermore, the automobile manufacturer has also introduced Duster facelift along with Kwid facelift in the nation this year.
The hike in prices at the end of each year is quite very common practice among automakers in India. It is basically a part of the cyclical price revision in the industry as well as before Renault, other carmakers such as Maruti Suzuki and Hyundai have already declared to hike the prices across their product range. In addition, BS6 and safety norms are also going to be kicking-in as well in 2020 and all the products are likely to get more costly around that time as well which might possibly reasonably affect the sales as well.
Coming to its sales, Renault had witnessed a sales that have the hike of 77 per cent in November 2019 in the domestic market, after selling 10,882 units, as against the 6134 vehicles which were sold in November 2018.
