Rakesh Sharma, executive director, Bajaj Auto, told FE that freight rates have doubled because of the reduced sailings via the Red Sea as well as higher insurance costs. "The cost impact on a motorcycle would be in the region of $15-20," Sharma said. He added that while this may not be the kind of increase which affects demand, it would "certainly makes logistics more complex".
Bajaj Auto is India's largest exporter of two-wheelers. While Africa is the biggest market for its own brand of products, it exports motorcycles of KTM and Triumph to the US and Europe.
Satyakam Arya, MD and CEO, Daimler India Commercial Vehicles, said while the crisis has not impacted volumes, logistics costs have increased.
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