General Motors has announced that it will increase its 2008 pricing by an average of 1.5% per model. The price increase is due to rising steel and commodity prices. The Cadillac XLR will see the biggest price hike, with its sticker price growing by $1,500.
“This targeted price increase is designed to partially recover ever-increasing commodity costs,” Mark LaNeve, GM North America vice president of vehicle sales, told The Detroit News.
While most vehicles will see a price increase of between $100 and $500, some models won’t see any increase at all. The base model Saturn Aura and Chevrolet Malibu will be spared a price increase, because GM says they are “in hotly contested segments.”
Ford said that it has no price increases planned, but Chrysler failed to comment on the subject.
