Millennium Post

America’s GM to extract Rs10,000 more per vehicle

General Motors India on Wednesday said that it will hike prices of its three models by up to Rs 10,000 from the first week of September due to a sharp depreciation in the rupee against the US dollar.

The company will be increasing the prices of its compact car series -- Beat, SAIL and multi-purpose vehicle Enjoy by 1.5 per cent, which translates to a range of Rs 2,000 to Rs 10,000.

‘The sharp rupee depreciation combined with heavy discounting due to competitive pressure has adversely impacted profit margins. So, we have decided to raise prices in the range of Rs 2000-10,000 from 1 September,’ General Motors India vice president P Balendran said.
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