India's second-biggest carmaker Hyundai Motor India on Monday said it plans to increase prices by the next month.
"We are evaluating the impact of escalation in input costs. What will be the quantum of price jump and on which models, is being studied," company officials said in New Delhi.
Almost all car manufacturers have expressed the need to increase prices by the next month citing similar reasons.
Maruti, Tata Motors, Ford Motor India and General Motors have said the spurt in material costs was increasingly becoming difficult to absorb.