(autoinsidernews) - General Motors announced yesterday that it has raised prices by an average of 0.5 percent on a third of its 2007 U.S. models. GM says the price increases of to cover increased raw material costs. The price increases ranges from $60 to $425 per vehicle, with most falling in the $90 to $120 range, said GM spokesman John McDonald, reports Trend.
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, McDonald said.