Renault to increase prices of Koleos
December 14th, 2011 - 5:57 pm ICT by IANSChennai, Dec 14 (IANS) Renault India Wednesday said it will raise the price of its recently launched sports utility vehicle (SUV) Koleos from Rs.22.99 lakh to Rs.23.99 lakh from Jan 1,2012, due to rupee depreciation and rising input costs.
“This (hike) has been necessitated by the increase in the cost of raw materials and fluctuations in the currency market. Until now we have been absorbing the increases, but we now have to reflect an element of these costs in our pricing,” Marc Nassif, managing director, Renault India, said in a statement.
“It (Koleos) has been very well received in the Indian market and has already established a strong position in the SUV segment in India,” he said.
Koleos was launched in India in September this year. The car is powered by a two-litre dci diesel engine with a maximum power output of 150 PS at the rate of 4,000 rpm and peak torque of 320Nm at the rate of 2,000 rpm.
Other car manufacturers such as Hyundai, General Motors (GM) and Toyota Kirloskar Motor (TKM) have also decided to hike prices from January.
Automobile major Hyundai Motor will hike prices by 1.5 percent to two percent across models in January 2012. GM will raise its prices by one-to-two percent next year, and the prices of TKM cars manufactured in India would be hiked by about 3 percent.
The rupee has so far depreciated by nearly 16 percent against the US dollar in the last four months. The high input and interest costs have dampened the auto-sector sales.
- Hyundai to increase car prices from January - Dec 07, 2011
- Renault launches SUV Koleos in India - Sep 08, 2011
- Renault bets on diesel models to beat competition - Dec 18, 2011
- Renault raises compact car Pulse price - Feb 23, 2012
- Renault to roll out below Rs.4 lakh car - Feb 02, 2012
- Renault enters compact car segment with Pulse launch - Jan 06, 2012
- South Korean carmakers' exports hit record high - Apr 09, 2012
- Renault to launch five cars in India - Aug 26, 2010
- Car-makers to increase prices from January - Jan 01, 2011
- Renault to launch two more models in India in 2012 - Jan 17, 2012
- Renault unveils new variant of Fluence sedan - Apr 03, 2012
- Renault to launch four new models in India by 2012 - Jun 02, 2011
- Auto industry to entice customers with new launches in 2011 - Jan 16, 2011
- Interest rates, fuel price hike dampen automobile sector (Roundup) - Jun 01, 2011
- Mega-launches, big-ticket announcements at Delhi Auto Expo - Jan 03, 2012
Tags: auto sector, car manufacturers, chennai, currency market, depreciation, diesel engine, fluctuations, hyundai motor, input costs, interest costs, lakh, litre, maximum power output, peak torque, raw materials, rupee, sports utility vehicle, suv segment, tkm, toyota kirloskar motor