General Motors India plans to hike price of its models by up to 2 per cent with effect from next month to partially offset the recent foreign exchange fluctuations.
All the eight models of the company’s current product portfolio in the country, including entry-level compact car Spark, will become costlier due to the price hike.
“The company will hike prices across its portfolio between 1-2 per cent with effect from July depending upon the model and variant to partially offset increased cost pressure on account of the recent foreign exchange fluctuations,” a company source said.
In January, the company had increased vehicle prices by up to Rs 61,000 due to expiry of reduced excise duty concessions.
Currently, Spark is priced at Rs 3.61 lakh while the top end variant of the company’s premium sports utility vehicle Captiva is priced at Rs 27.36 lakh (all prices ex-showroom Delhi).
Other models from the company’s stables comprises hatchback Beat, Sail sedan and Sail hatchback, multi purpose vehicle Enjoy and premium sedan Cruze.