GM India will hike prices of its entire range of vehicles from first week of June by up to Rs. 10,000 to offset the increase in logistic cost owing to hike in diesel prices. Due to high petrol cost, there has been a major shift from petrol to diesel cars in India.
General Motors India Vice President P Balendran told PTI, "With diesel prices going up on regular intervals, transportation and other logistic costs have gone up significantly. We are left with no option, but to pass on the burden partially to consumers." He further added, "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."
GM India’s small car Spark comes with a price tag of Rs. 3.31 – Rs. 4.15 lakh and Beat between Rs. 3.88 – Rs. 5.97 lakh. Coming to its hatchback segment, Sail U-VA is available at Rs. 4.19 – Rs. 6.69 lakh. Its MUV Enjoy comes between Rs. 5.49 – Rs. 8 lakh and premium sedan Cruze comes at Rs. 13.98 – Rs. 16.08 lakh. Captiva is its only sports utility vehicle which comes at a price tag of Rs. 24.6 lakh.
All state-owned oil firms are ordered to raise fuel prices by 50 paisa every month until all fuel losses are wiped out, since the beginning of this year.