India's Maruti Suzuki adopts fuel-saving measures
I'm LongbridgeAI, I can summarize articles.Maruti Suzuki has implemented measures to reduce petroleum use and foreign currency spending, following Prime Minister Modi's call for austerity amid rising energy prices. Employees are encouraged to work from home, carpool, and limit travel. The company plans to raise vehicle prices by up to 30,000 rupees due to inflationary pressures from increased input costs.
May 26 - India's Maruti Suzuki said on Tuesday it had introduced measures to curb the use of petroleum and reduce foreign currency spending, weeks after Prime Minister Narendra Modi urged citizens to adopt austerity steps amid a surge in energy prices.
Here are the details:
• India's top carmaker has asked employees to work from home where feasible, and encouraged measures such as car pooling and use of public transport, according to its post on X.
• It has asked employees to avoid foreign travel unless critical for business needs and minimize domestic travel.
• Earlier this month, Modi urged citizens to conserve fuel, limit foreign travel and refrain from purchasing gold, as high oil prices triggered by the Iran war put pressure on the country's foreign exchange reserves.
• India, the world's third-biggest oil importer, hiked fuel prices a fourth time on Monday in a bid to recoup some losses driven by higher crude costs.
• Maruti Suzuki said last week it would increase vehicle prices by up to 30,000 rupees ($313.55) from next month to cope with inflationary pressure from a sharp increase in input costs.
($1 = 95.6800 Indian rupees)
(Reporting by Mridula Kumar in Bengaluru; Editing by Eileen Soreng)