Car market leader Maruti Udyog [Get Quote] on Wednesday said it will hike prices by the end of this month.

"We are in the process of working out a price revision and new prices would be announced by the end of this month," Maruti managing director Jagdish Khattar said.

Higher costs of input material as well as freight have seen margins of automobile companies come under severe pressure.

Earlier this month the country's second largest car maker Hyundai had also opted for a price hike across various models, including the popular Santro.

Not only car companies, but bike majors Hero Honda and Bajaj have also admitted to pressure on margins due to rise in cost of input materials.

While Bajaj has already hiked prices of some of its models, Hero Honda will be announcing increased prices by the end of this  month.