Tata Motors, BMW among automakers set to raise prices in India [Yahoo! Finance]
SUZUKI MOTOR CO UNSP/ADR (SZKMY)
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Source: Yahoo! Finance
and logistics costs linked to turmoil in the Middle East begin to weigh on the sector, Nikkei Asia reported. Tata Motors will raise commercial vehicle prices by up to 1.5%. Tata Group's passenger vehicle business is also expected to lift prices by an average of 0.5%, with changes varying by model. Audi will increase passenger car prices by as much as 2%, according to the report. BMW Group India is also considering similar steps, with its revisions set to take effect on 1 April. "To offset escalating logistics and material costs alongside a depreciating rupee, we are implementing a price adjustment of up to 2% across our range," Hardeep Singh Brar, president of BMW Group India, told Nikkei Asia. The report said concerns are growing that Iran's de facto blockade of the Strait of Hormuz could further push up the cost of imported aluminium and steel, which were already rising. Higher maritime logistics costs are expected to hit foreign-owned automakers more sharply, given their
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