Chrysler is raising prices on its 2008 models by 2%, citing the rising price of steel and other commodities, reports the Wall Street Journal.
The increased prices will go into effect June 16, and will be applied to any 2008 vehicle Chrysler produces the rest of the year. New, higher prices will also carry over into 2009.
Vehicles not affected by the price increase include 2008 models already in dealer inventories.
Steel prices have doubled since January and other auto makers, like GM, have increased their prices in recent months as well.
Despite the company’s "Let’s Refuel America" $2.99 gas incentive, Chrysler’s U.S. sales through May have dropped 20%.