General Motors India, joining the league of other vehicle manufacturers in the country, has hiked prices by up to Rs 10,000 across all its models from January 2014.
"We plan to increase prices by up to Rs 10,000 across all our models from January 2014 to partially offset input cost pressure," said P Balendran, Vice-President, General Motors India.
Earlier in September, the automaker had increased its prices by a similar amount on three models for the third time this year.
In December, a number of automobile manufacturers had hiked prices, mostly due to mitigate the slow market conditions and prevent inventory pile up.
Other companies joining the price-hike league
Maruti Suzuki India, the country’s largest carmaker, said it will hike vehicle prices across all models by up to Rs 20,000 from January due to increasing pressure on margins due to currency fluctuation.
Tata Motors had announced plans to hike prices of its passenger vehicles by about 1 per cent from January. The Mumbai-based company, however, is currently reviewing the market situation with regards to its commercial vehicle business for a similar step and will take a call later.
Hyundai Motor India Ltd also announced plans to increase prices across all models by up to Rs 20,000 from January to offset pressure of input costs on account of rupee depreciation and inflationary trends.
French auto major Renault said it will also increase vehicle prices in India from next month to offset the impact of high input costs. The company’s wholly-owned subsidiary Renault India sells five models in India, including the sports utility vehicle Duster and compact car Pulse.