Maruti expects pressure of commodity prices to continue in the coming months
- According to Shashank Srivastava, senior executive director, marketing and sales, Maruti Suzuki, price of steel has shot up to Rs67,000 per tonne compared to Rs38,000 in April 2020
Maruti Suzuki India ltd – country’s largest car maker – is not expecting commodity prices to soften substantially in the coming months and its management, as a result, has opted for a price hike for the fourth time in this calendar year to improve profitability. The company though could not pass on the entire increase in commodity prices due to uncertainty in demand after the second wave of Covid-19.
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