General Motors India to Increase Prices from 9th January
Posted on January 7th 2009Welcome back!
General Motors India will increase its car prices by 1% to 2% fron January 2009 to cover increasing prices. However, according Sr. officials, the market conditions may not improve in a 1st half of 2009.
Mr. Balendran (VP, GM India) said that the price hikes were to cover the input costs and an impact of weakening of rupee last year.
Due to the current market conditions, the company has not decided its target for the year 2009.
Normally we fix targets in January, but this year we have not done so. Last year everyone said the market was likely to grow by at least 22 per cent. Then it was scaled down. We do not expect the market to improve at least for the first six months of 2009.
- Mr. Balendran (VP, GM India) said.
Last week, the government of India declared some measures to stimulate the demand and central bank slash its interest rates by 1% point each, following rates slashes and stimulus measures in a December destined to support growth.
By editor in Auto India News, Auto Pricing, General Motors
dreamthecar responded on 09 Jan 2009 at 6:41 am #
Most of the car manufacturers are increasing the price of their car models.The inflation and th increase in input cost is said to be the reason.
Rahul,