Renault India, an automaker, announced Thursday that it will raise the prices of all of its models by up to 2% starting in April.

The company said in a statement that the increase's magnitude would differ for various models and variants.

The decision is a reaction to the ever-rising input costs that the business has been bearing for a long time, it continued.

Venkatram Mamillapalle, the MD and CEO of Renault India Country, stated, "This price adjustment is necessary due to the persistent rise in input costs, even though we have made every effort to keep prices stable for a long time."

He added, "a price adjustment has become necessary in order to maintain the highest caliber and most inventive products. The company has long been covering these costs in order to serve its customers.

The automaker claims that this is the first price hike that Renault India has declared since February 2023.

Citing increased input costs, a number of automakers have already announced plans to raise vehicle prices starting next month, including Maruti Suzuki, Hyundai, Tata Motors, Kia India, and Honda Cars.