Renault to hike prices of vehicles in January

French auto major Renault on Thursday said it will hike prices of its vehicles from January to offset rising input and material costs. The company said it would undertake "a substantial price increase" across its range of vehicles with effect from January 2020.

"The price increase is on the account of rising input and material costs," Renault India said in a statement. The extent of price increase may vary for different models, it added.

The company currently sells a range of vehicles from entry level small car Kwid to SUV Captur, priced between Rs 2.3 lakh and Rs 12.99 lakh (ex-showroom Delhi). Companies including Maruti Suzuki, Mercedes and Toyota have already said they would hike prices from January to offset rising input costs.