Indian carmakers face rising steel and freight costs, with more price hikes possible

The Economic Times reports HR steel prices rose 30% year over year in September 2026, while the Baltic Dry Index climbed 60% from September 2025. Industry executives said most car companies had raised prices two or three times in 2026 and could do so again after the festive season if inflationary pressures persist. Overall auto sales still grew by strong double digits in the fiscal year's first half, on a low base.