Renault India: In the new year, Renault India will raise its vehicle prices. Car loans will cost a lot of money, and cars will cost a lot of money as well.
Car loans are undoubtedly pricey now that the RBI repo rate has increased.
As a result, automakers are raising the cost of their vehicles. Renault India, a subsidiary of French automaker Renault, followed Maruti Suzuki in announcing plans to raise the price of its automobiles starting in 2023.
The business said that it would raise the price of its vehicles to lessen the impact of cost growth. The firm hasn’t said how much the prices will rise, though.
In a statement, Renault India claims that the ongoing rise in commodity prices is to blame for the increase in input costs.
In addition to inflation brought on by exchange rate fluctuations, the corporation is also forced to raise vehicle pricing as a result of regulatory requirements. Kiger, Triber, and Kwid are the car brand names used by Renault India.
The business claimed that the Indian market is very important to it. Additionally, the business will introduce a number of new developments in its goods and services in the coming days for Indian customers.
Prior to Renault India, Maruti Suzuki likewise made a price rise announcement for its automobiles beginning in January 2023.
Although the corporation has not yet disclosed how much the costs would raise or when they will do so.
The higher pollution standards will really take effect on April 1, 2023, at which point corporations will pay more to comply.
For this reason, automakers from Tata Motors to Renault India are ready to raise the price of their passenger vehicles.
Vehicle sales that do not adhere to BS6 Stage 2 requirements will end under the new emission standards. The new cars will use less fuel, lowering CO2 emissions as a result.
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