General Motors India to hike car prices by up to Rs 10,000
Car maker General Motors India today said it would hike rice of its cars by up to Rs 10,000 across all models from January 10, due to rising input costs and currency fluctuations.business Updated: Jan 07, 2009 01:59 IST
Car maker General Motors India on Wednesday said it would hike rice of its cars by up to Rs 10,000 across all models from January 10, due to rising input costs and currency fluctuations.
"There is pressure due to the currency fluctuations and rising input costs. From January 10, we will hike prices across all models by 1-2 per cent," General Motors India Vice-President P Balendran said.
He said while the company's entry level hatchback Spark could be costlier by Rs 3,000, others like sedan Optra could be more expensive by Rs 10,000.
"Even on Wednesday the auto-grade steel price has not come down. It is the price of only steel used for construction activities that have come down," he said, adding its SUV Captiva would also see a price hike in the same range.
The company last month announced price cuts in order to pass the benefit of four per cent cut in CENVAT, announced by the government as a part of stimulus packag, to consumers.