General Motors India has announced a hike of 1-2 percent across its models with effect from January 2012 owing to the weakening of the Indian rupee. With the rupee depreciating by more than 15 percent in the period of September to November 2011, the firms are high strung in terms of the cost of the automotive components imported from overseas.
The price for the Beat diesel has been increased by Rs. 15,000 with immediate effect. The company Vice President P Balendran stated, “In case of Beat diesel, we had an introductory price. Due to the current currency fluctuations and rising commodity prices, we have no option but pass it on to consumers.”