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TIGER PRODUCTIONS
When crowd in auto industry is running after price –hike, how can General Motors be left behind in the race? Well same depicts here with the auto group’s decision of price hike on its entire range of models by up to Rs. 20,000. With an aim to counter the effects of currency fluctuations and economic slowdown, GM will offer its products on increased prices from 8th October.
While talking on the issue, P Balendran, General Motors India Vice President reportedly quoted that high input cost, rupee depreciation and freight charges have badly impacted company’s profit margins, so now it is the time to shift little burden on customers. Auto group will hike the prices between 1-2% resulting in increased burden of Rs. 8,000-20,000 on customer’s pockets depending on different models, he added.
Well other carmakers including Maruti Suzuki, Honda, Renault and Audi have already hiked their products prices citing similar reasons. While Honda has increased the prices of the Brio, Jazz and City models by 0.2-2.6 per cent, Maruti gave a price boost of Rs. 5,250 on its all models. Moreover, Renault India has raised Duster’s price by Rs.40, 000 and Q3 from Audi’s stable has also seen a price hike of Rs. 50, 000. Tata Motors seems to be an exception to this list, which had cut the prices of its compact car Indica eV2 by Rs 23,000 with the launch of a refreshed version.
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