New year might not bring as much happiness if you are planning to buy a new car in January since most carmakers have announced a price hike. Renault India too has done it now, citing increasing costs of input the main reason behind the hike.

Renault India to increase car prices in January 2014

New prices will be effective from January 1, 2014 but they are yet to be announced. The hike is unavoidable for buyers unless you buy the cars in December, which will fetch you better deals (and discounts) and all that at a lesser prices. The only problem with buying a car this month is that it will be a model year 2013 version, which could mean a lesser resale value, if you plan to sell it later. Renault is currently offering an additional two year warranty, exchange benefits, 3 years insurance and 24h roadside assistance to all its customers buying cars before the new year begins.

“Due to unavoidable macro-economic factors such as increasing rates, input costs, Renault India will increase prices across its product range in January. We will provide more information on the price increase soon, although this will be as per industry standards.”, said Renault's Executive Director Sales and Marketing, Mr Sumit Sawhney.