General Motors India has announced that it will hike the prices of all its vehicles in the range of Rs 8000 to Rs 20,000 from October 8 to combat depreciating value of the Rupee and high input costs. This amounts to a hike of one to two per cent depending on the model.
Speaking on the hike, General Motors India Vice President P Balendran said, “Rupee depreciation in recent times has impacted us very badly. Besides, input costs and freight charges have also gone up. So, we have decided to pass on the burden partially to consumers."
GM joins the likes of Honda and Maruti Suzuki who hiked the prices of various models in their range due to similar reasons. Honda announced a hike of 0.2 to 2.6 per cent on the Brio, Jazz and the City while Maruti Suzuki has raised the price of all its vehicles in the range of Rs 2500 to Rs 5250.
