General Motors began charging higher prices on Wednesday for most of its 2008 model year vehicles to partially recover increasing steel and commodity costs.
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The price increases average about 1.5%.
“This targeted price increase is designed to partially recover ever-increasing commodity costs,” said GM North America sales chief Mark LaNeve. Price hikes are mostly around $100 to $500 depending on model but the new Chevrolet Malibu and the Saturn Aura in “competitive” segements are unaffected. The Cadillac ZLR went up $1,500.
GM said the price increase would not affect vehicles already in dealer inventory.
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