General Motors India, the Indian arm of the American automobile manufacturer General Motors has announced that it will be hiking prices across all its car models in India from January 2014. The price hike on its car models is expected to be to the tune of up to Rs 10,000.
According to Mr. P Balendran Vice-President General Motors India, the automaker will increase the prices across its auto product portfolio in order to offset the increase in input costs. The carmaker had earlier implemented its third hike for the year 2013 in September.
Amid slowdown in the Indian automobile industry, majority of the carmakers in India have already announced price hikes from January 2014 with the aim of preventing inventory pile up and offsetting the high input costs resulting from the depreciation of the Indian rupee.