GM India mulls to hike vehicle prices in September
General Motors India is eyeing at reviewing the prices of its cars in September. Karl Slym, President of GM India, on Wednesday told reporters that the rising costs of raw materials is putting a lot of pressure on car manufacturers. Recently Mahindra & Mahindra also increased the prices of their entire product range owing to the same reason.
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General Motors launched Chevrolet Beat diesel in July this year. Overall GM India sold 9050 units in the month of August. Out of them, more than 50% were Beat diesel. The price review decision can move the balance either way. The sales of the car could remain unaffected with a slight hike in price because the demand of Beat diesel is fairly high in India.
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But car business is a risky business in the world's second-fastest growing auto market after China and no one can deny this. The sales can also see a tumble if the consumer in this price-sensitive market prioritise his pocket before purchase. Presently Chevrolet Beat diesel is available at an ex showroom price of Rs 4.29 lakh (base variant). If the prices are hiked, rivals like Honda can make hay because the company has already decided to launch Honda Brio under Rs 5 lakh. Honda’s flagship sedan Honda City has already reserved the top position for itself and the other hatchback Jazz is also coming out of its gloomy sales. Amid competition with such a player, General Motors has to be very cautious at every move and should rethink about the plan.
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