With prices of various essential commodities like steel, copper, aluminium and precious metals going up, automakers have been hiking prices on a regular basis to offset the impact.
Last week Mahindra & Mahindra hiked vehicle prices by 2.5 per cent, entailing an increase of up to Rs 63,000.
Similarly, Toyota Kirloskar Motor has increased prices of its entire model range by up to 4 per cent from April 1.
Luxury carmakers Audi, Mercedes-Benz and BMW have also announced price hikes recently.