General Motors India has also announced its plan to raise prices of its locally manufactured vehicles by up to 2 per cent with effect from January to offset impact of rising input costs and foreign exchange fluctuations.
"GM India will increase prices of locally built Chevrolet vehicles by up to two per cent with effect from January depending upon various models and variants, in order to partially offset rising input costs and foreign exchange fluctuations," a company spokesperson said.
Currently, GM India sells a range of locally produced vehicles starting from the entry level small car Beat to the sedan Cruze with prices ranging between Rs 4.2 lakh and Rs 16.85 lakh (all prices ex-showroom Delhi).
The price hike is not applicable to the company's recently launched premium sports utility vehicle Trailblazer.
The vehicle comes to India as a completely built up (CBU) unit from Thailand.
On Thursday, Maruti Suzuki India too had announced that it would hike prices of its products by up to Rs 20,000 from next month to offset rising input costs and unfavourable foreign exchange fluctuation.
Already, various car makers like Hyundai Motor India, Toyota and German luxury car makers Mercedes Benz and BMW have announced a hike in prices of their vehicles across models from January to offset rising input costs.
Experts believe carmakers usually come up with such announcements around this time of the year which help them clear inventories left after the heavy festival discounts on vehicles.