Feeling immense pressure from the rising input costs, the automakers in the country are not ruling out the option of a fourth hike in the Indian automobile market.

The first hike came in early January as carmakers hiked prices by 0.5-2 per cent following a surge in the input costs followed by a 2% excise duty rollback by the Finance Minister Pranab Mukherjee before the third hike that came due to the up gradation to the BSIV norms.

In total, the car prices have seen a surge of close to Rs. 6,000 to Rs. 1,20,000 in the Indian market. Maruti Suzuki India's chief general manager, marketing, Shashank Srivastava said that there is immense pressure due to the rising input costs and even the currency fluctuation is not in favour of many auto majors.

Vice-president, corporate affairs, of General Motors India P. Balendran explained the fact that there have been three rounds of hikes already and if the input costs continue to move upwards, the pressure will be too high on automakers.

Toyota will review its prices in July as it normally does on a quarterly basis but the company accepted the fact that the pressure on the margins is very high.