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General Motors India and Toyota Kirloskar Motor both indicated today that they may raise their prices across their vehicle range on account of rising input prices.
“After reviewing the prices of our vehicle this month we may decide on price hike by October," General Motors India President and MD, Mr Karl Slym, told reporters on the sidelines of the SIAM event.
He, however, declined to comment how much the hike would be. The company has already increased prices twice this year. General Motors produces Beat, Aveo, Spark and Cruze among others.
Toyota Kirloskar Motor (TKM), Deputy Managing Director (Marketing), Mr Sandeep Singh, too, spoke along the same lines.“We will raise prices most probably from October by 1.5 to 2 per cent on account of rising component costs and appreciation in the yen,” he said.
Toyota Kirloskar Motor has already increased the prices of its vehicles twice this year in April and July by a total of 3 per cent.
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