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General Motors to review product prices this month

General Motors to review product prices this month
PTI
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First Published: Wed, Sep 07 2011. 03 36 PM IST
Updated: Wed, Sep 07 2011. 03 36 PM IST
New Delhi: General Motors India on Wednesday said it will review the prices of its entire range of products this month, as core input materials are becoming costlier.
“We have to review the prices on a regular basis to consider the rates’ movement... We will review the prices of our vehicles in September, so that if we take any hike it can be done in October,” General Motors India president and MD Karl Slym told reporters on the sidelines of a summit organised by the Society of Indian Automobile Manufacturers (SIAM).
He, however, declined to provide details on the quantum of the expected price hike.
The firm has increased prices twice in 2011, in February and July, by 0.5%-1.5%, respectively.
“Though there is a slowdown in the industry, raw material prices are coming down. Rubber and steel prices have stabilised to some extent, but prices of other components are still very high,” he said.
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First Published: Wed, Sep 07 2011. 03 36 PM IST
More Topics: SIAM | GM | Price | Product | Input Cost |