With effect from today, General Motors India, has increased prices of their range of vehicles by upto Rs.20,000. This price hike follows Indian Rupee currency devaluation and higher input costs which are not only affecting General Motors but all auto companies in India.
General Motors have announced price hikes between 1% and 2% on their entire range and this will relate to price hike between Rs.8,000 to Rs.12,000. General Motors vehicles start from the Chevrolet Spark priced at Rs.2.85 lakhs and extend upto Chevrolet Captiva which is priced at Rs.24.6 lakhs. Apart from this, Chevrolet will be launching their new car, Sail in India this month, which is expected to boost their car sales.
The General Motors announcement follows car price hike announcement by Honda Cars India and Maruti Suzuki, who have also increased prices with effect from October 2012 citing similar reasons of higher input costs, increased freight charges and foreign exchange fluctuations.
While Maruti Suzuki will be increasing prices of all models in their lineup, Honda will be increasing prices of only three models – Brio hatchback, Jazz premium hatchback and the City sedan all by 2.6%. Tata Motors is the only company that has actually cut prices of their compact car Indica eV2 by Rs.23,000 due to the launch of a revised version.