General Motors raises prices of some of their 2007 model-year vehicles in the United States

General Motors raises prices of some of their 2007 model-year vehicles in the United States

US based auto giant General Motors has said that they are increasing the prices of some of their 2007 model-year vehicles.

The company has blamed rising costs for steel and other commodities. The price increase range from $60 to $425 per vehicle. GM said that the increase averages to about 0.5 percent per vehicle.

G. Richard Wagoner Chairman and Chief Executive Officer, General Motors Corporation said in a statement on these price hikes: “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.”

The company is implementing the price hike on 239 of its 681 vehicle models and its variants.