General Motors India today said it will hike the prices of its entire range of models by up to Rs 20,000 with effect from October 8 as it looks to minimise the impact of adverse currency movement and high input costs.
"Rupee depreciation in recent times has impacted us very badly. Besides, input costs and freight charges have also gone up. So, we have decided to pass on the burden partially to consumers," General Motors India Vice President P Balendran told PTI.
The company will hike the prices between 1% and 2% depending upon the various models, he added.
"The increase will be around Rs 8,000 and will go up to Rs 20,000. It will be with effect from October 8," Balendran said.
The company sells a range of models in India. While the entry-level small car Spark starts at Rs 3.15 lakh and the premium sports utility vehicle Captiva goes up to Rs 24.81 lakh. All the prices are as per the company's official website and are for ex-showroom, Delhi.
Other car makers, including Maruti Suzuki, Honda Cars, Renault and Audi have also raised the prices of their vehicles to offset adverse impact of foreign exchange fluctuation and rising input costs.
The country's largest car maker Maruti Suzuki India had hiked prices of its all models by up to Rs 5,250 this month.
Honda Cars India had raised the prices of its three models -- Brio, Jazz and City -- by up to 2.6% with effect from October 1. Renault India also had hiked rates of its sports utility vehicle Duster by up to Rs 40,000 from this month.
Luxury car maker Audi had hiked the prices of its sports utility vehicle Q3 by up to two%, translating into an increase of Rs 50,000, from this month.
However, Tata Motors had cut the prices of its compact car Indica eV2 by Rs 23,000 with the launch of a refreshed version.