General Motors confirmed that there would be an increase in price by mid-january 2011 inorder to accomadate the rising input costs. The last price revision was done in the month June-July by GM India. Here goes another hike !
“We are reviewing the cost pressure, but there will be an increase in prices across models from the first week of January,” GM (India) Vice-President (Corporate Affairs) P Balendran told PTI on the sidelines of SIAM (Society of Indian Automobile Manufacturers) and CII oraganised Auto Show East.
“We typically increase prices between 1.5 per cent and 3 per cent,” he said when asked about the expected hike in prices.”There is a huge input cost pressure. Some component prices have increased between 5 and 15 per cent,” Balendran said.
General Motots had set aside USD 500 million for investment towards the launch of new vehicles, dealerships and operations expansions over the next two years.
“We have invested over USD 1 billion so far and we plan to invest another USD 500 million for our future expansion,” GM India President and Managing Director Karl Slym had said recently.
We had also mentioned earlier in our post that GM plans to introduce six new models for India over the next 24 months – Stay Tuned to track down GM India’s future development.
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