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Renault Hikes Car Prices: On the one hand, after increasing the repo rate of RBI (RBI Repo Rate Hike), car loan is sure to be expensive, on that automobile companies are increasing the prices of cars. After Maruti Suzuki, French car company Renault India has also announced to increase the prices of its vehicles in the new year 2023. The company said that to reduce the effect of increase in cost, it is going to increase the prices of its vehicles. However, the company has not disclosed how much the prices will be increased.
Renault India is issuing a statement that the input cost has increased due to the continuous rise in commodity prices. Also, apart from inflation with exchange rate fluctuations, the company has to increase the prices of vehicles due to regulatory compulsions. Renault India sells vehicles under the names Kiger, Triber and Kwid. The company said that the Indian market means a lot to it. And in the coming days, the company is bringing many new innovations in its products and services for the Indian consumers.
Before Renault India, Maruti Suzuki has also announced to increase the prices of its vehicles from January 2023. Although the company has not yet told how much the prices will be increased and from which date the increased prices will be applicable. Apart from Maruti Suzuki, Tata Motors has also indicated to increase the prices of passenger vehicles.
In fact, from April 1, 2023, the new emission norms are going to be implemented, after which the cost of the companies will increase to meet it. This is the reason that from Renault India to Tata Motors is preparing to increase the prices of their passenger vehicles. Under the new emission norms, the sales of vehicles that do not meet the BS6 Stage 2 norms will be discontinued. The new vehicles will be fuel efficient and thereby help in reducing CO2 emissions.
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