The country’s largest car maker Maruti Suzuki said “As of now, we do not see any direct impact on our business. We will keep watching the situation including for any indirect impact, said Rahul Bharti, Executive Director, Corporate Affairs, Maruti Suzuki.
Others like Toyota too are keeping a close watch and continue to monitor the situation closely.
“Toyota Kirloskar Motor will continue to monitor the situation closely and we would like to refrain from commenting any further,’ said the Toyota Kirloskar spokesperson.
Honda Cars said the current crisis has no direct connection to it’s operations.
Homegrown players Mahindra and Tata Motors declined to comment.
Industry experts say the auto industry is dependent on precious metals like copper ,palladium and silicon, and the ongoing crisis could have a short to medium term impact. Further, what may be worrisome is the rise in oil prices which is definitely going to affect consumer buying sentiments especially in the two wheeler segment, already reeling under pressure with lower sales and increasing vehicle prices . Russia , a large producer of crude oil, the stand off could see oil over $100 per barrel .
What could see an impact are the tractor exports , especially the lower hp tractors . Sources say tractor companies, although with a small exposure to Ukraine markets have executed the current orders , may not take fresh orders till situation improves.
