Newspaper article St Louis Post-Dispatch (MO)

GM Raising Prices on '95S by 2.5 Pct

Newspaper article St Louis Post-Dispatch (MO)

GM Raising Prices on '95S by 2.5 Pct

Article excerpt

General Motors Corp. said Thursday that it will raise the prices of its 1995 models by an average of 2.5 percent, or $494 per vehicle, from final 1994 levels.

GM said it was announcing the pricing early so that its dealers can take orders for 1995 models starting in July.

GM's car prices for 1995 are up 2.9 percent, or $539 per car, from final 1994 prices, while its light truck prices are up an average of 2.0 percent, or $414.

J. Michael Losh, executive vice president, said the new pricing structure would put further pressure on import automakers, especially Japanese manufacturers who are being pressured by the rising yen, to increase U.S. prices.

Losh made the pricing announcement on his last day on the job in charge of GM's North American sales, service and marketing operations. He becomes GM's chief financial officer effective today. GM will take a company-wide vacation shutdown for two weeks starting Monday.

Some of the price increases among GM's divisions are significant, however. …

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