General Motors may hike prices in India Also Read - India to be Under Lockdown For 21 Days, Confirmed COVID-19 Cases Spike to 536

General Motors India is considering revising its prices in the month of October, after a review meeting.  Rising prices of raw materials like steel, rubber etc.  are the reasons behind the price hike. Earlier this month auto majors Mahindra and Toyota raised their prices by two per cent and we can expect a similar increase from GM. Also Read - COVID-19 LIVE: Next 3-4 Weeks Are Crucial, PM Modi Tells State CMs | Top Developments

Auto manufacturers are in a dilemma, as rising costs have not only affected their profit margins but sales have also dipped thanks to increasing fuel prices and high loan rates.  Any hike in current market conditions might directly affect their sales during the festive season and hence we are expecting that the new prices will be effective only by end of October, post Diwali. Also Read - India vs South Africa 1st ODI, Highlights: Match Abandoned Without Toss in Dharamsala Due to Rain