Chevrolet India has joined the bandwagon of manufacturers hiking the price of their vehicles. The carmaker India announced that effective from January, its car line-up will be dearer by one to three per cent depending on the vehicle and variant. This translates to a hike of approximately Rs 30,000 across the range.
Hardeep Brar, vice president of sales & network at GM India, commenting on the price hike said, “In the adverse market conditions the price hike is necessitated on account of higher manufacturing cost as the input prices surge year-on-year. In-line with the industry practice and rising manufacturing and another administrative cost, we proposed a price increase across our product line in India.”
The American manufacturer has slated the increase to foreign exchange rate and inflation in the input cost as the reasons for the increase in prices. The increasing cost of the raw material which raises the manufacturing cost is the root cause for the hike in the prices.
