GM hikes vehicle prices to cover rising material costs

Dec 19, 2007 | 07:03 AM | Scott Robertson

General Motors Corp., Detroit, plans to increase prices on most 2008 model-year vehicles in an attempt to partially recover higher steel and commodity costs.

The price increases average 1.5 percent, with most falling in a range of $100 to $500 per vehicle depending on model, and went into effect with vehicles invoiced to dealers Wednesday.

"This targeted price increase is designed to partially recover ever-increasing commodity costs," Mark LaNeve, vice president of vehicle sales, service and marketing with GM North America, said in a statement. "While most cars and trucks in our portfolio will go up between $100 to $500 in hotly contested segments, many vehicles such as the Saturn Aura four-cylinder and the all-new Malibu LS will have no increase."....

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