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General Motors to hike car prices by up to 3% from Jan

The price hike by General Motors comes following the market leader Maruti Suzuki revising its product prices by up to Rs 20,000 and Toyota Kirloskar Motor (TKM) raising the prices by 1-2 per cent across all models.

General Motors India on Thursday said it will hike prices of all its car models by up to 3 per cent effective January to off-set the rising input costs and rupee volatility.

"We will increase product prices in January 2013 across all carlines ranging from 1-3 per cent, depending upon models," General Motors India Vice President P Balendran said in a statement.

The hike was necessitated due to currency fluctuation and hike in input costs, he said.

GM India makes the Chevrolet range of cars and its portfolio consists of brands like Spark, Tavera and Captiva.

The price hike by General Motors comes following the market leader Maruti Suzuki revising its product prices by up to Rs 20,000 and Toyota Kirloskar Motor (TKM) raising the prices by 1-2 per cent across all models.

Maruti Suzuki at present sells a variety of models whose prices range from Rs 2.09 lakh to Rs 17.52 lakh (ex-showroom Delhi).

TKM sells a range of vehicles, from hatchback Etios Liva, price starting at Rs 4.44 lakh, to the imported sports utility vehicle Land Cruiser, tagged at Rs 99.27 lakh (ex-showroom Delhi).