Riding costs are putting the brakes on the Indian car industry’s recovery ...Middle East

Quartz - Economy
Riding costs are putting the brakes on the Indian car industry’s recovery
The Indian automobile industry is yet to fully recover from the pandemic-induced slump, and now a new battlefront has opened up: spiking inputs costs.Increasing costs of stuff like aluminium and rhodium have led to more expensive semiconductors, catalytic converters, and other car parts. Overall, raw material prices have been rising since the beginning of the pandemic in 2020, leading to a cost increase of around 75% for original equipment manufacturers (OEMs).The situation has now worsened in recent months.Read the rest of this story on qz.com. Become a member to get unlimited access to Quartz’s journalism.

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