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General Motors raises prices of some cars in India
August 29, 2013 / 11:18 AM / 4 years ago

General Motors raises prices of some cars in India

Aug 29 (Reuters) - General Motors said it would raise the prices of some its vehicles in India by up to 10,000 rupees ($150) from the first week of September, citing a hit on margins due to a weakening rupee.

“The sharp rupee depreciation combined with heavy discounting due to competitive pressure has adversely impacted the margins,” said P. Balendran, vice president, GM India.

$1= 66.5 Indian rupees Reporting by Aradhana Aravindan in MUMBAI; Editing by Sunil Nair

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