GM to hike car prices by mid-January

"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.GM India's last price revision was done in June-July.

GM had earmarked USD 500 million investment over the next two years to expand operations, launch new vehicles and ramp up dealership network all over the country.
"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.The US-based automaker plans to launch six new vehicles in the country over the next 24 months, including, van, hatchback, small car and SUV categories