After Maruti Suzuki, India’s number one automobile manufacturer has hiked the prices of all its car models by 3.4%, following its footsteps, General Motors India has also hiked prices of all its car models by 0.5 per cent and 1.75 per cent depending on the car model. The price hike is across to compensate rising input costs and the impact of currency fluctuation. The depreciating value of Indian rupee and the higher input cost resulted in the hike of the prices. Now the GM cars will be expensive by Rs. 3,000 to Rs. 15,000 depending upon the model of the car.
Presently, General Motors India are selling 7 car models in India out of which three car models (the Aveo U-VA, the Tavera MUV and the Captiva SUV) are going to be replaced by their facelifted versions. As the price hike is going to affect the present models, they are planning to launch the new models after a couple of months.
General Motors has car models across the spectrum, right from the entry level Chevrolet Spark hatchback to the top of the line Flagship Captiva SUV. After the hike, the company’s entry level car, the Spark, which was earlier priced between Rs. 3.24 lakh and Rs. 4.04 lakh (ex-showroom Delhi) will increase by about Rs.3000. The Beat diesel which was earlier priced between Rs.4.29 lakh and Rs.5.45 lakh (ex-showroom Delhi) will be costlier by RS.10,500. The company’s mid-sized Cruze sedan will become costlier by Rs.15,000 which was available in the range of Rs.12 lakh to Rs.14.50 lakh (ex-showroom, Delhi). Multipurpose vehicle Tavera will see a price hike of Rs.10,000 to Rs.13,000, depending on the variant, which was priced in the range of Rs.6.62 lakh to Rs.7.56 lakh (ex-showroom, Delhi). General Motors will also introduce four new car models in the Indian market for 2012. Like Maruti, the reason for this price hike is the increase in input costs and the depreciating Indian rupee.