GM raises some U.S. auto prices
General Motors Corp. (GM.N: Quote, Profile, Research) said on Wednesday that it has raised prices on one-third of its 2007 model-year vehicles in the United States to cover increased costs for steel and other commodities. The price increases range from $60 to $425 per vehicle with a majority of the hikes in the $90 to $120 range, GM spokesman John McDonald said. "What we are trying to do is to recover a portion of our increased costs, things like steel, materials and other commodities that go into our products," he said, adding that the price increase average to about 0.5 percent per vehicle.
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