Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Companies / News/  Renault plans to increase prices from 1 January
BackBack

Renault plans to increase prices from 1 January

High input cost, coupled with high inflation is hurting the company, says Renault India’s Sawhney

A file photo of the Renault Duster. Photo: Ramesh Pathania/Mint (Ramesh Pathania/Mint)Premium
A file photo of the Renault Duster. Photo: Ramesh Pathania/Mint
(Ramesh Pathania/Mint)

Chennai: French auto-major Renault SA plans to increase prices of its automobiles in India by up to 1.5% with effect from 1 January 2013 due to high input costs.

“We have to follow suit with the rest of the industry as input costs have gone up tremendously...we are forced to pass on some of the burden to our customers as high input cost, coupled with high inflation are all eating into our bottom line," Renault India executive director (sales and marketing) Sumit Sawhney said. “The price increase will be up to 1.5% across the range and will be effective from 1 January 2013," he said.

Renault India currently has 75 dealerships across the country. The company plans to increase it to 100 by the end of this fiscal.

Renault along with Japan-headquartered auto-maker Nissan Motor Co. Ltd has a manufacturing facility at Oragadam, Chennai, set up at a cost of 4,500 crore. The plant has a total capacity of producing 400,000 units per annum.

Renault India, subsidiary of Renault SA, France retails premium hatchback Pulse, mid-size sedan Scala, SUV-Duster, premium sedan Fluence and premium SUV Koleos.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 18 Dec 2012, 01:32 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie