Will General Motors Raise Their Prices?

By vicky.in

Published: Tuesday, March 8, 2011, 13:47 [IST]

General Motors in the domestic market is chalking out to effect another price, the second time in a row, in a bid to meet the rising raw material prices. The company"s VP said the rise has become inevitable for almost all the auto makers in the event of rising in put costs.

Hence GM has no option than rising its price for the second time within this year, he added, that the review would be made during this month end before effecting the rise in April. Only in January 2011 GM increased the prices of its vehicles by 2% and the simultaneous increase in the raw materials, he added, forced the company to think of another rise instantly. The major materials like rubber and metals have hit the margin by way of the rise in their prices.

GM has an array of models in its platform in the Indian market - Chevrolet Spark, Aveo UVA, Captiva, Cruze, Aveo, Optra, Tavera and the recent entry Beat compact. The iconic sedan Cadillac is slated for the domestic market in the near future, that is to say at the right time, he said. He remarked that the company has some decent shares from its Chevrolet brands in the highly competitive Indian car market.

Article Published On: Tuesday, March 8, 2011, 13:22 [IST]

More from DriveSpark