The Economic Times

Auto industry faces cost squeeze as steel, freight prices surge, more hikes likely

The Indian automobile industry is currently grappling with rising input and freight costs due to geopolitical uncertainties. Prices of key commodities like HR steel and aluminum have surged significantly over the past year. Major car manufacturers have already implemented multiple price hikes and are considering more after the festive season. Despite these challenges, overall auto sales have recorded strong growth in the first half of this fiscal year.