General Motors India has announced that it will increase the prices of its entire range in India by up to Rs. 10,000 from the first week of June 2013. This step is the result of the increase in logistic costs due to the hike in diesel prices.
P Balnedran, vice president, General Motor India said, "We have decided to increase the prices of all our vehicles up to Rs.10,000 depending upon the model with effect from the 1st week of June on account of increase in transportation costs/logistics due to hike in diesel price. In percentage terms, the increase goes up to 1.5 per cent depending on the model".
"We are yet to finalise the exact amount, but it will be up to 1.5 per cent, which will be around Rs 10,000, depending upon different models and their variants," He added. General Motors has 8 products in India - Spark, Beat, Sail U-VA hatchback, Sail sedan, Enjoy MPV, Tavera, premium sedan Cruze and only sports utility vehicle Captiva.
The government of India has partially de-controlled the diesel prices from January this year, and since the oil marketing companies earn the liberty to increase the diesel prices by up to 50 paisa per litre every month, and it will continue for next few months till the entire losses are recovered. Few days back, the OMCs has raised the diesel prices by Rs. 1.02 lakh per litre, which is the fourth increase in rates since January 2013.
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