GM to raise prices for 2008 vehicles
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From: Milton, FL
GM to raise prices for 2008 vehicles
http://money.cnn.com/news/newsfeeds/...8_FORTUNE5.htm
General Motors To Raise Prices On Certain '08 Model Vehicles
Dow Jones
December 18, 2007: 04:30 PM EST
DOW JONES NEWSWIRES
General Motors Corp. (GM) intends to increase prices on its 2008 model vehicles by as much as $1,500 due to rising commodity and steel costs.
The Detroit-based automaker said the price increases, which are effective Wednesday, will average 1.5%.
The adjustments range from no change on its 2008 Chevrolet Malibu LS price to a $1,500 increase on the Cadillac XLR, the company said. Most vehicles will get price increases of $100-$500.
General Motors said vehicles already in dealer inventory won't be affected.
GM shares rose 54 cents, or 2%, to $26.93 near the market's close.
Dow Jones
December 18, 2007: 04:30 PM EST
DOW JONES NEWSWIRES
General Motors Corp. (GM) intends to increase prices on its 2008 model vehicles by as much as $1,500 due to rising commodity and steel costs.
The Detroit-based automaker said the price increases, which are effective Wednesday, will average 1.5%.
The adjustments range from no change on its 2008 Chevrolet Malibu LS price to a $1,500 increase on the Cadillac XLR, the company said. Most vehicles will get price increases of $100-$500.
General Motors said vehicles already in dealer inventory won't be affected.
GM shares rose 54 cents, or 2%, to $26.93 near the market's close.
Registered User
Joined: Sep 1998
Posts: 4,320
From: Memphis
Anytime prices increase under the inflation rate, I look at it as them getting cheaper, really...
The XLR increasing 1500 bucks when they're already having to rebate the hell out of the thing just to get them off dealer lots is pretty stupid.
The XLR increasing 1500 bucks when they're already having to rebate the hell out of the thing just to get them off dealer lots is pretty stupid.
Registered User
Joined: Jan 2000
Posts: 10,285
From: Albany, NY
but here is CPI
1.5% isn't bad considering the amount cars have gone up in Canada and Europe measured in US dollars.
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Joined: Sep 2002
Posts: 9,705
From: Oakland, California
http://en.wikipedia.org/wiki/Three_Gorges_Dam
Registered User
Joined: May 2004
Posts: 2,043
From: Shelbyville, IN
Actually most of the steel they are buying is for the huge hydro electric project they're working on. Its been hitting us hard on the construction side for a few years now.
http://en.wikipedia.org/wiki/Three_Gorges_Dam
http://en.wikipedia.org/wiki/Three_Gorges_Dam
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Joined: May 2001
Posts: 1,018
Registered User
Joined: Oct 2007
Posts: 374
From: Denton, Texas
i think its a market scheme too. the xlr is a good example alright. "wow im getting a 9000 dollar rebate on a 82000 dollar car!" "im saving tons of money yeah!" the incentives will go up making the car seem cheaper. i guess its a good way to sell cars.
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Joined: Sep 1998
Posts: 4,320
From: Memphis
Permanent massive rebates make me think 'overpriced, nobody wants it, they can't get rid of them'.
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Joined: May 2001
Posts: 1,018
A vehicle doesn't feel like it's a "premium" vehicle if the manufacturer can't give the things away, even with $9k cash in the trunk ('06 Jeep Commander). GM really needs to cut the rebate crap.