It has been decided by General Motors India, the Indian branch of the leading car maker from United States, that there is going to be an increase in price of their portfolio of cars in India. The price hike would range from 1% to 2% and is going to be effective from January 2012. By announcing this, GM India has joined some other top car makers in the Indian market like Maruti and Toyota, who have already disclosed their decision of increasing their car prices for the market in India coming in effect from January 2012. This decision has been taken following the weakening of the Indian Rupee in the global FOREX market, which has directly impacted in hiking the costs of importing car components.
Come January 2012, the hottest selling and one of the most popular products from General Motors, the Chevrolet Beat diesel-variant, is going to be dearer by Rs.15,000. This price hike was announced by the Vice President, GM India, P Balendran. While talking to reporters on this aspect, he said that the Chevrolet Beat diesel-variant had initially come with an introductory offer. With the continuous rise in commodity prices as well as the fluctuations in the current market recently, the company did not have any other option but to pass on the same to the consumers.
GMI recorded total sales of 8,440 units in India in the month of November 2011. The portfolio of the company in India is continuously improving with models already present in the market, e.g. Chevrolet Beat and Spark in small cars, U-Va the premium hatchback, the Aveo an entry-level sedan, the Optra Magnum a mid-sized sedan, Chevrolet Cruze Premium sedan as well as the Tavera and Chevrolet Captiva in utility vehicles.