GM Raising Prices Tomorrow On Almost All Product - $0 On Malibu, $1500 On XLR

[Perian]

Link: http://www.reuters.com/article/marke...0071218?rpc=44

DETROIT, Dec 18 (Reuters) - General Motors said on Tuesday it will increase prices by as much as $1,500 on its 2008 model year vehicles in the United States to recover rising steel and commodity costs.

The price increases are effective for vehicles invoiced to dealers on and after Dec. 19.

"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," said Mark LaNeve, GM North America vice president, Vehicle Sales, Service and Marketing.

An increase in commodities prices, particularly steel and precious metals such as platinum, have cut into the profits of automakers this year and has hurt overall cost reduction efforts.

GM is boosting prices as it tries to stick to a strategy of lower incentives and clearer pricing, after decades of big discounting programs that eroded profits.

The price increases, averaging about 1.5 percent, will range from nothing on the 2008 Chevrolet Malibu sedan to $1,500 on the Cadillac XLR luxury sports coupe, GM said.

[Perian]

Merry Christmas from General Motors.

[goochman]

Glad I got my Enclave last month :O

[megeebee]

"Oh, you shouldn't have."

[Bravada]

This is actually how Chinese cars have reached Western shores without even being here!

[I-Love-Pontiac]

I hate how expensive the G6 coupe has got. $23,000 with a 3.5? Are you kidding me?

[Jkujo]

Originally Posted by I-Love-Pontiac

I hate how expensive the G6 coupe has got. $23,000 with a 3.5? Are you kidding me?

I am getting the GXP version next week. At least the invoice is from November so I don't have to worry.

[steverino]

Raise prices, then have to increase rebates to move 'em. Smart, real smart

Reaching back into the past to take a page from the late Roger Smith's playbook