Indian Car Sales Rise in May Amid Higher Fuel Prices
Major Indian carmakers including Maruti Suzuki and Tata Motors reported sales growth in May despite rising fuel costs linked to the Iran conflict. Consumers are increasingly shifting toward CNG vehicles to reduce running expenses as manufacturers implement price hikes to manage soaring raw material costs.
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India's top automakers reported higher domestic sales in May, led by a 42% jump at TATA MOTORS LTD /NEW. Growth persisted despite at least four fuel price hikes in May triggered by rising crude oil costs. Investors are monitoring how rising raw material costs and price hikes from June affect long-term consumer demand.
