Metals surged yet Maruti M&M and Tata held prices Why this January broke the pattern

Metal costs jumped, but car prices barely moved

January was unusual for Indian car buyers: major automakers like Maruti, M&M and Tata didn’t raise prices as they typically do. The twist is that metal costs have been rising, and metals make up most of a vehicle’s weight. With companies now focused on pushing volumes while capacity expands, margins may soon force more “intelligent” pricing changes.