Auto giant General Motors India Private Limited has announced that it will hike the prices of its vehicles from the first week of June 2013. The company said that it will hike the prices of its entire range by up to Rs. 10,000.
General Motors explained that the price hike was essential in order to offset the rising logistics costs due to an increase in the price of diesel. P. Balendran, Vice President of the company, expressed his views on the latest development and said, “With diesel prices going up on regular intervals, transportation and other logistic costs have gone up significantly. We are left with no option, but to pass on the burden partially to consumers.”
Balendran added that the price hike would be placed in effect from the first week of June 2013. The VP also said that the exact amount of the price hike is yet to be finalized, but it will be up to 1.5 percent, which will be around Rs. 10,000. The price hike will be different for different models and their variants.
For now, the cheapest offering by General Motors is its Spark model, which is a subcompact hatchback available in India between Rs. 3.31 lakh and Rs. 5.97 lakh.
