General Motors India is planning to hike prices by 1-2 per cent across its portfolio of products, effective July, to offset the rise in production costs.

“The increase in prices is to partially offset the increased cost pressure on account of the recent foreign exchange fluctuations,” company sources told BusinessLine .

They, however, declined to be identified before a formal announcement.

When contacted, a company spokesperson declined to comment.

The company’s portfolio includes hatchback Chevrolet Spark, Beat, Chevrolet Sail and sedans Sail, Cruze and Tavera, and MPV Enjoy and SUV Captiva.

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