Automaker, Mahindra & Mahindra has announced that it will increase the prices of its products in the country by 3 per cent from January 1.

India's largest utility vehicles and tractor maker said in a statement that it will be “raising the prices of its products by up to 3%, depending on models”. The price is id due to the rising costs of production over the last few months and the falling value of the Indian rupee against other currencies.

Maruti Suzuki India, Toyotam General Motors and others are considering increasing price of their offering in the country to offset the rising cost of imports. Toyota Kirloskar Motor (TKM) has announced that it will increase the prices of all its models by 3 per cent on January 1, 2012.

Maruti Suzuki India Managing Executive Officer, Marketing and Sales division, Mayank Pareek also hinted a price hike in January.

General Motors India has announced that it will increase the prices of its models in India to compensate for the weakening value of the rupee. The company said that it will increase the price by about 1-2 per cent by January next year. It has already increased the price of Beat diesel car by Rs 15,000 with immediate effect.