Wednesday, 22 May 2013

GM India to hike prices of their vehicles by upto Rs 10,000 from first week of June 2013

General Motors India has announced a price hike across its range of vehicles starting from first week of June to offset the increase in logistics costs followed by hike in diesel prices.

"With diesel prices going up on regular intervals, transportation and other logistic costs have gone up significantly. We are left with no option, but to pass on the burden partially to consumers," General Motors India Vice President P Balendran told. 

"We are yet to finalise the exact amount, but it will be up to 1.5 per cent, which will be around Rs 10,000, depending upon different models and their variants," Balendran said.

In this month, diesel prices were hiked by Rs 1.02 per litre, the fourth increase in rates this year. Earlier, diesel prices were raised by 45 paisa in March, excluding VAT. Similar hikes had taken place in January and February, but prices were not changed in April when Parliament's Budget session was on.


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