The company, however, did not disclose the quantum of the proposed price hike.
“Reasons for the price hike are to partially offset the impact of constant increases in input costs largely driven by pricier commodities, fluctuations in foreign exchange rates, inflation and also due to regulatory obligations,” the carmaker said in a statement.
The company, which sells models like Kiger, Triber and Kwid, also said that India is a key market for it and it has a long-term strategy to grow the brand with plans to “bring several new innovations in products and services for the diversified Indian customers”.
“Renault has a strong India strategy with a heavy emphasis on localisation in its current and future range of products, offering customers a compelling value proposition, ” it said.
