THE DEPRECIATION OF the rupee against the dollar comes as a mixed bag for the automotive sector, benefiting export-driven domestic manufacturers while adversely affecting luxury carmakers reliant on imports.
Domestic manufacturers such as Bajaj Auto and Maruti Suzuki are poised to capitalize on the rupee's slide as their overseas sales, priced in dollars, yield bigger margins.
Bajaj Auto, the country's largest exporter of two- and three-wheelers, recorded a robust 11% year-on-year (y-o-y) growth in exports, selling 1.21 million units between April and November. The company's key markets include Latin America, Asean, and Africa, where demand remains strong, and transactions are predominantly conducted in dollars.
This story is from the December 26, 2024 edition of Financial Express Mumbai.
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This story is from the December 26, 2024 edition of Financial Express Mumbai.
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