GM prices hiked

- General Motors said Monday it will increase prices by an average of about $123 on most of its cars and trucks starting on May 2.

- The price hike "is in response to a continuing rise in material costs that are being driven by increasing commodity prices," said GM Spokesman Tom Henderson in response to an e-mailed query from Inside Line.

- GM said it will not release a list of the vehicles about to get a price increase.


DETROIT — General Motors said Monday it will increase prices by an average of about $123 or 0.4 percent on most of its cars and trucks starting on May 2. However, the Detroit automaker said it will not release a list of the vehicles about to get a price increase.

The price hike "is in response to a continuing rise in material costs that are being driven by increasing commodity prices," said GM spokesman Tom Henderson in response to an e-mailed query from Inside Line.

When asked if the price increase is linked to the global automotive parts shortage triggered by Japan's March 11 earthquake, Henderson wrote: "No. It is solely related to rising materials costs."

GM's pricing action follows similar moves recently by Ford and Toyota.

Earlier in April, Toyota announced price increases on most models, including the 2011 Toyota Prius, 2011 Toyota Camry and 2011 Scion xD. Toyota said the increases will range from 1.2-2.2 percent and become effective in May.

Ford this month also increased prices on its 2011 models by an average of $117 or 0.4 percent.

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