New Delhi: Renault India on Saturday said that it will hike the price of its new sports utility vehicle Duster by up to Rs 40,000 from October 1 citing increase in raw material costs and instability in foreign exchange.

The company had launched the Duster in July at an introductory price of Rs 7.19 lakh for the entry-level petrol variant and Rs 7.99 lakh (ex-showroom Delhi) for the diesel variant.

“The price for the Duster petrol variant will see a price increase by Rs 30,000 whereas the Duster diesel will see a prike hike by Rs 40,000,” the company said in a statement.

The new prices will be effective from October 1, 2012. The Duster has received 20,000 bookings since launch, it added.

The introductory price will be maintained for all the bookings made until the end of August 2012 whether or not they are delivered at the time of the price hike, the company said.

Commenting on the development, Renault India Managing Director Marc Nassif said: “Facing an increase in raw material prices and instability in foreign exchange, factors which are beyond our control, we had to increase the retail price of the Renault Duster.”

To meet the demand for the Duster the company has increased production to three shifts in the Chennai factory as well as the output of the vendors, he added.

The diesel variant is powered by a 1.5 litre engine, while the petrol variant has a 1.6 litre engine.

(Agencies)

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