India's largest passenger car seller Maruti Suzuki had announced on December 10 that it will raise vehicle prices by up to Rs 20,000. A day earlier, on December 9, India's second largest car seller Hyundai Motor India announced vehicle price escalation up to Rs 30,000 across all models from January onwards.

On December 14, Indian automobile manufacturer Tata Motors declared price hike for its entire passenger vehicle range by up to Rs 20,000 from January, attributing the cause to the impact of various macro-economic factors.

Not to be left behind, Toyota Kirloskar Motor said the price hike would be up to 3 percent on its vehicle range from January while its rival Honda Cars India Limited (HCIL) car prices will rise up to Rs 16,000.

Other car manufacturers which announced price hike to offset rising input costs include Nissan, Renault and Skoda. Nissan announced price rise by up to 3 percent on its entire vehicle range and subsidiary Datsun.

Indian subsidiary of French automaker Renault announced a price hike of 3 percent for its vehicles from January. Similarly, General Motors (GM) India has also announced price rise by up to 2 percent on its vehicle range. Czech automaker Skoda's vehicles will rise in price by up to Rs 50,000 from January.

Echoing similar justification, luxury car maker BMW escalated prices for its BMW and Mini range of vehicles effective from the new year by 3 percent.