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GM Raising Prices

Latest maker to pass rising costs onto customers.

by on Apr.19, 2011

You'll soon be paying more for GM products like this Buick Regal.

General Motors is the latest automaker to ask customers to help cover its own rising costs.

The typical GM product will cost about $123 more, starting May 2nd, which the maker attributes to the higher price it is paying for commodities such as steel and oil.  Steel is the dominant material in a car, but higher oil prices translates into increased costs for plastics – and the tank of gas a new model leaves the factory with.

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GM is by no means alone.  Ford has bumped up prices.  And so has Toyota, which plans to add an additional 1.2% to 2.2% to the sticker on its Toyota, Scion and Lexus products, come May.

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