General Motors India has announced that it will increase the prices of its models in India to compensate for the weakening value of the rupee.

The company said that it will increase the price by about 1-2 percentby January next year. It has already increased the price of Beat diesel car by Rs 15,000 with immediate effect.

"In case of Beat diesel, we had an introductory price. Due to the current currency fluctuations and rising commodity prices, we have no option but pass it on to consumers," said, P Balendran, the Vice President of GM India.

He also said that the prices of the rest of the models will be increase next month. The company sells Spark, Beat, UVA, Aveo, Optra, Cruze, Tavera and Captiva in the Indian market.

Maruti Suzuki India, Toyotam General Motors and others are considering increasing price of their offering in the country to offset the rising cost of imports. Toyota Kirloskar Motor (TKM) has announced that it will increase the prices of all its moels by 3 per cent on January 1, 2012. Maruti Suzuki India Managing Executive Officer, Marketing and Sales division, Mayank Pareek also hinted a price hike in January.