Chevrolet India, announced a price rise across all Chevrolet models. Effective from January 01, 2017, the estimated price increase on all the Chevrolet cars will range between 1% to 3% depending on the product and variant which will make vehicles approximately INR 30,000 higher in 2017.
Sharing his views on this announcement, Mr. Hardeep Brar, Vice President of Sales & Network at GM India, said – “In the adverse market conditions the price hike is necessitated on account of higher manufacturing cost as the input prices surge year-on-year. In-line with the industry practice and rising manufacturing and other administrative cost, we proposed a price increase across our product line in India.”
According to Chevrolet India, the primary reason for the price hike can be attributed to the increase in Foreign Exchange rates and high inflationary cost, resulting in a considerable increase in raw material pricing leading to higher manufacturing cost in the sector.