American auto major, General Motors today announced that it will increase prices of its five models by 0.5-1.5 per cent with immediate effect factoring a steep rise in the input costs.
"The increasing input cost is a biggest concern for us for last six months. After the commodity prices reached its bottom, all materials like steel, rubber and aluminium are rising," GM India Director (Sales), Sumit Sawhney told PTI after the launch of GM's new model Chevrolet Beat here.
The company will increase prices upto 1.5 per cent from January 5, Sawhney said, adding that the company, however, did not have any plans to increase the prices of three models--Catptiva, Optra and Aveo Yuva taking into account the market feedback.
General Motor of India makes eight models in the domestic market--hatchback Chevrolet Spark, Aveo UVA, sedans Aveo, SUV Captiva, Optra, Cruz, Beat and Tavera.
The car maker today launched its global mini car 'Chevrolet Beat' in India priced between Rs 3.34 lakh and Rs 3.94 lakh (ex-showroom Delhi). The 1.2 litre petrol car will be available in three variants.
The car will be available in seven colours.