General Motors India increased the prices of its four models by 0.5 to 1.5 per cent with effect from Jan 5th to offset the steep rise in input costs.
GM blames the price hike on the increasing input cost on essential raw materials like steel, rubber and aluminium. The price rise is applicable on Chevy models such as the Spark, Aveo, Cruze, and Tavera. But the good news is that the prices of Captiva, Optra and Aveo U-Va will not be increased taking into account the market feedback.
General Motor of India makes eight models in the domestic market–the hatchbacks the Spark and Aveo UVA, the Aveo, Optra and Cruze in the sedan category, SUV Captiva, and MUV Tavera and the just-launched Beat in the small car.
Another American car company Ford also joined the price hike fest with GM on its models in India.
Ford India had said that it will hike the prices of all its models to offset pressure from higher input costs and exchange rate fluctuations from January 1. The company will raise prices between Rs 6,000-Rs 40,000 across its product range. Ford India produces Ikon, Fusion, Fiesta and sport-utility vehicle Endeavour at its factory near Chennai.
Some leading automobile majors like Skoda India, Toyota Kirloskar Motor and Fiat had earlier announced that they will hike prices from January. Czech car-maker Skoda India will raise prices from Rs 10,000-20,000 from January on all of its models sold here in India.
Toyota Kirloskar Motor also upped the prices of three of its key models – Innova, Corolla Altis and Fortuner by up to 2 per cent from January 1.
Fiat also has increased prices of two of its cars, the Linea and the Grande Punto by 2-2.5 per cent owing to increasing input costs. The prices would go up by about Rs 15,000 on an average and upto Rs 25,000 for some of the versions.
Prices of base metal copper has risen more than 130 per cent this year and is on course to record its biggest annual increase in more than 30 years. Aluminium rates jumped to USD2,165.25 a tonne, its highest level since October 2008. Price of silver, which is also used by the automobile industry in a small way, has risen by 1.4 per cent to $19.34 an ounce.
GM blames the price hike on the increasing input cost on essential raw materials like steel, rubber and aluminium. The price rise is applicable on Chevy models such as the Spark, Aveo, Cruze, and Tavera. But the good news is that the prices of Captiva, Optra and Aveo U-Va will not be increased taking into account the market feedback.
General Motor of India makes eight models in the domestic market–the hatchbacks the Spark and Aveo UVA, the Aveo, Optra and Cruze in the sedan category, SUV Captiva, and MUV Tavera and the just-launched Beat in the small car.
Another American car company Ford also joined the price hike fest with GM on its models in India.
Ford India had said that it will hike the prices of all its models to offset pressure from higher input costs and exchange rate fluctuations from January 1. The company will raise prices between Rs 6,000-Rs 40,000 across its product range. Ford India produces Ikon, Fusion, Fiesta and sport-utility vehicle Endeavour at its factory near Chennai.
Some leading automobile majors like Skoda India, Toyota Kirloskar Motor and Fiat had earlier announced that they will hike prices from January. Czech car-maker Skoda India will raise prices from Rs 10,000-20,000 from January on all of its models sold here in India.
Toyota Kirloskar Motor also upped the prices of three of its key models – Innova, Corolla Altis and Fortuner by up to 2 per cent from January 1.
Fiat also has increased prices of two of its cars, the Linea and the Grande Punto by 2-2.5 per cent owing to increasing input costs. The prices would go up by about Rs 15,000 on an average and upto Rs 25,000 for some of the versions.
Prices of base metal copper has risen more than 130 per cent this year and is on course to record its biggest annual increase in more than 30 years. Aluminium rates jumped to USD2,165.25 a tonne, its highest level since October 2008. Price of silver, which is also used by the automobile industry in a small way, has risen by 1.4 per cent to $19.34 an ounce.
