General Motors India hike car prices from Jan 9

General Motors Corp has decided to hike its car prices by 1-2 per cent from Jan 9, 2009.

The decision has come has a part of its initiative to cover rising costs and the impact of the weakening of

the rupee last year. However, a senior official revealed that the company does not expect the market to

improve in the first half of 2009.

P Balendran, vice-president at General Motors India informed that GM India had missed its 2008 sales target

of 75,000 units. And hence, the company has not set a target for 2009 because of the uncertain market

conditions.

Though the Indian government announced a series of measures to stimulate demand and the central bank cut

its main interest rates by 1 percentage point each, yet for this to get reflected at the ground level it

will take a minimum of three months.

GM India, which has two manufacturing plants in India, plans three launches this year, starting later this

month with a four-wheel drive, automatic transmission Chevrolet Captiva and another mini car.

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