Maruti Suzuki CNG Bookings Rise 40% After Fuel Price Hikes
Maruti Suzuki CNG bookings rose 40 percent after India raised fuel prices. State retailers hiked costs four times in May as crude prices rose amid the Iran war.
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Maruti Suzuki India Ltd reported a 40% surge in bookings for compressed natural gas vehicles following domestic fuel price hikes. State retailers raised petrol and diesel prices four times in May to offset rising crude costs. The shift highlights consumer sensitivity to traditional fuel costs in India, a critical growth market for the automaker.
Maruti Suzuki confirmed the booking increase on Monday morning. The surge follows a period where state-owned fuel retailers adjusted prices to recoup losses from higher crude costs linked to regional geopolitical tensions.
