January was unusual for Indian car buyers: major automakers like Maruti, M&M and Tata didn’t raise prices as they typically do. The twist is that metal costs have been rising, and metals make up most of a vehicle’s weight. With companies now focused on pushing volumes while capacity expands, margins may soon force more “intelligent” pricing changes.
Volvo Car India will recalibrate prices upward by as much as Rs 1 lakh for its vehicles from May 1. The automaker attributes the move to international supply chain disruptions and currency variations. It also warns that if the economic situation fails to improve, more price hikes could be announced later.
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