GM announced today that it will be increasing prices on most of its 2008 models to make up for the rising cost of steel and other commodities. 2008 model year prices will go up 1.5 percent on average while some vehicles will get no price increase including the Saturn Aura and the base Chevrolet Malibu.
“This targeted price increase is designed to partially recover ever-increasing commodity costs,” Mark LaNeve, GM North America vice president of vehicle sales, service and marketing.
LaNeve said that on average prices will go up about $100 to $500 for GM cars and trucks. The price increase will not affect cars already at the dealers which will be available for purchase until the end of the year during GM’s Red Tag promotion.
Source: The Detroit News
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