General Motors to raise car prices from 1 Oct

Move to counter rising input costs and currency fluctuation; price hike details still being evaluated
Comment E-mail Print Share
First Published: Thu, Sep 27 2012. 02 02 PM IST
General Motors India’s move comes three days after Honda Cars India and Maruti Suzuki India announced plans to increase prices of their respective products. Photo: Ramesh Pathania/Mint
General Motors India’s move comes three days after Honda Cars India and Maruti Suzuki India announced plans to increase prices of their respective products. Photo: Ramesh Pathania/Mint
Updated: Thu, Sep 27 2012. 02 41 PM IST
New Delhi: General Motors India Pvt. Ltd will raise the prices of all its models from 1 October. It did not disclose the quantum of increase.
“We have decided to increase price of all models with effect from 1 October due to high input costs, currency fluctuation and freight,” P. Balendran, vice-president, corporate affairs, General Motors, said on Thursday. “We are still evaluating the quantum of price increase.”
The auto maker’s move comes after Honda Cars India Ltd increased price of its cars such as Brio, Jazz and City and Audi India raised price of its compact sports utility vehicle Q3 by as much as 2%.
While Audi cited economic upheavals and rupee devaluation as reasons for the increase, Honda said the prices have gone up as the prices have been revised due to rising input costs, inflationary pressures and increase in freight due to the increase in diesel prices.
The country’s largest car maker Maruti Suzuki India Ltd has also said it will hike the prices of its vehicles within a week to offset the impact of adverse foreign-exchange fluctuations and rising input costs.
“There is a lot of pressure on our margins due to the foreign exchange fluctuation and rising input costs. We will be increasing product prices within a week but the details are being worked out,” chief operating officer, marketing and sales, Mayank Pareek had told PTI on Monday.
Comment E-mail Print Share
First Published: Thu, Sep 27 2012. 02 02 PM IST
blog comments powered by Disqus
  • Wed, Sep 10 2014. 03 54 PM
  • Wed, Sep 03 2014. 05 33 PM
ALSO READ close

Lessons in size for Maruti Suzuki ahead of Ciaz launch

Subscribe |  Contact Us  |  mint Code  |  Privacy policy  |  Terms of Use  |  Advertising  |  Mint Apps  |  About HT Media  |  Jobs
Contact Us
Copyright © 2014 HT Media All Rights Reserved