New Delhi, December 27, 2004: General Motors today announced a price increase ranging from Rs 5,000 to Rs 12,000 on some of its popular Chevrolet and Opel brand models to partially offset the rise in input costs of steel, plastic and other materials. However, the price of its premium SUV Chevrolet Forester will remain unchanged.

"Margin has been under pressure for quite some time because of the steep rise in the prices of steel and other items, but we have now been forced to pass on part of the same to the end customers,” said Mr. P. Balendran, Vice President (Corporate Affairs) explaining the price rise. The revised price will come into force with effect from January, he said.

Following the increase, the Chevrolet Optra in Entry ‘D’ Luxury sedan segment would become about Rs 7,000 to Rs 10,000 dearer or about one per cent more depending upon the variants with the base model costing Rs.7.47 lakh (ex-showroom Delhi).

The new generation premium multi-utility vehicle (MUV) Chevrolet Tavera would be Rs 8,000 to Rs 12,000 more expensive, a rise of 1.3 to 2.2 percent depending upon the models. Tavera price now starts at Rs. 5.54 lakh (ex-showroom Delhi).

The prices of all variants of Opel Corsa would go up by about Rs 5,000, an Increase of about one percent with price starting at Rs 4.42 lakh (ex-showroom Delhi) for Corsa Sail and Rs. 4.99 lakh (Ex-showroom Delhi) for Corsa NB.

GM India is a wholly owned subsidiary of General Motors Corporation. Besides the Chevrolet Optra, GM India manufactures the Chevrolet Tavera, Opel Corsa, Opel Corsa Sail and Opel Swing at its facility in Halol, Gujarat. GM India also sells the imported Opel Vectra and Chevrolet Forester.