GM India to Hike Car Prices by 3%

GM India has fallen prey to the uncontrolled increase in commodity prices and decided to shed some burden off their shoulders and pass it onto the customers. Company has decided to increase prices of their entire product range by 2-3% from next month.

“Prices of commodities like steel and rubber have risen sharply since the second quarter of last year. So, we have been forced to increase prices. We will increase prices across all eight models by two to three per cent from the first week of July,” General Motors India Vice-President P Balendran said.

Many carmakers are pondering over the thought of hiking prices of their models, due to the hike in commodity prices by 25% in recent times.

Here is what Toyota Kirloskar Motor’s Deputy Managing Director (marketing) Sandeep Singh had to say, “We are reviewing the situation this time and will take a call by this month-end. Commodity prices have gone up sharply in recent days.”

Source: Business Standard

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