Auto parts cos fight shrinking margins as prices soar

Newswire

By Aniruddha Basu MUMBAI, June 27 (Reuters) - Indian auto parts makers are fighting lower margins with their backs to the wall as input prices soar and this week's unexpected rate hike by the central bank adding more fuel to the inflation fire. Companies are looking at new joint ventures, price increases and cost cuts amid flagging demand from automakers, themselves hurt by sluggish sales. "It's going to be a difficult year as demand for vehicles is likely to fall further due to high ...

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