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Thursday, March 24, 2011
Japan crisis, rate hikes pose threat to Indian car-makers
Mumbai: Faced with surging raw material costs, Indian car-makers now face three additional serious challenges, including a shortage of key components, which could impact their performance this year.
While they could pass on the burden of increased input costs to customers, a shortage of components, compounded by the March 11 tsunami and quake in Japan and the Reserve Bank's latest rate hike -- which could affect car financing -- have made them jittery over their prospects in the short-to-medium term.
General Motors India Vice-President P Balendran said, "Yes, the industry is facing problems, but we are taking it as a big challenge. We think this is a passing phase -- we see light at the end of tunnel.”
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