General Motors to hike prices in July

General Motors India has indicated a hike in price for all models by up to 2 percent, starting July. The hike percent will vary depending on the variant and the segment, with 1 percent being the minimum.

 

GM has clarified that this raise is to partially offset increased cost pressure on account of the recent foreign exchange fluctuations. This is the company's second price hike for the year, with the taking place in January. This Rs 61,000 hike was because of the expiration of the reduced excise duty policy.

 

The company has been going through some troubled times lately. While the American automaker sold its 500 millionth car in the US, it registered a 32 percent drop in sales in India in April 2015.