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Our Bureau

New Delhi , June 21

The prices of automobiles are set to go up in the coming month, with major companies having indicated a price hike to keep costs under control.

Hyundai is learnt to be hiking prices across all its models by up to Rs 15,000 from early next month, while Maruti is also preparing to raise prices in the next few days.

While Hyundai said that it is working out the exact quantum of hike on each model, sources in Maruti indicated that the company could announce a hike "over the next few days."

Car companies have been under severe pressure as production costs have gone up due to higher prices of input material. Also, the recent hike in oil prices has seen freight rates go up, adding to the pressure.

Hyundai had said last week that production costs had gone up due to higher costs of inputs and freight.

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