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Business News›Industry›Auto›LCV & HCV›Automakers likely to implement price hikes in coming months to counter soaring costs: Ashok Leyland MD

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Automakers likely to implement price hikes in coming months to counter soaring costs: Ashok Leyland MD
Synopsis

Automakers anticipate implementing calibrated price increases in upcoming months. High commodity costs are exerting pressure on manufacturer profit margins. The auto industry is preparing for a greater push towards electrification of mobility. A multi-fuel pathway including diesel and hydrogen is also highlighted. Pricing actions will be undertaken wisely to avoid market disruption.

ETMarkets.com

New Delhi: Automakers are likely to implement more price hikes for vehicles in a calibrated manner in the coming months as high commodity costs exert pressure on margins, Ashok Leyland MD and CEO Shenu Agarwal said on Thursday.



He also highlighted the need for a multi-fuel pathway, including diesel, gaseous fuels, electrification and hydrogen, asserting that the auto industry is preparing for a greater push towards electrification of mobility.

"Pricing action would happen more as we go along. However, you know that there is a limit to what customers will accept or the market will accept. Of course, you don't want to dent the momentum because momentum gets created with a lot of power and forces, and you don't want to mess up with those. Therefore, it will be done very wisely," he told reporters here.

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