Mr. Karl Slym, President of General Motors India has said that the company has been considering appropriate price hikes for some time now but did not reveal any further details. Top auto manufacturers such as Mahindra (M&M), and Toyota have already announced their price hikes.

Recurrent increases in fuel prices coupled with rising rates of Car loan, not to mention economic slowdown and inflation have all resulted in falling growth rates for car sales. Auto companies are not expecting too much in the upcoming festive season when most first time buyers purchase vehicles because it's auspicious. Taking all the above into consideration, it is only natural that auto companies are compelled to increase vehicle prices in the Indian car market.