The company may also decide to increase the price of its latest offering Alto."The board has taken an in-principle decision to hike prices due to the increase in input costs and a host of other factors," a top company official told The Financial Express .

"We will see the stock situation before announcing the increase," he added."Vendor costs have been rising and diesel prices have also increased recently. We have not been able to pass on the increase to the customer," he said. September period of 1205 units per day," he added. There was sluggishness in the automobile market in the first quarter of the current fiscal due to implementation of uniform sales tax and uncertainty about its implementation, tax induced increase in prices and price hike due to compliance with Euro norms. MUL announced an initiative to kickstart and revive the market out of the uncertainty by dropping the price of its entry-level models for a limited period on June 24. The drop in prices was then four to 10 per cent.