Mr Kern said the company has been absorbing a significant portion of these impacts till now, but to run a sustained and profitable business in the long run, revising the prices upwards was inevitable.

On the possibility of further price hikes, if the rupee continued to slide against the dollar, Mr Kern said, "The price hike that we are undertaking does not cover the impact of the current exchange rate hit and if this continues we will have to have a re-look at the pricing. We are hoping that the exchange rate returns to a reasonable level."

Many analysts and brokerages are of the view that the rupee will continue to fall against the dollar and may breach 70 in a month.

Yesterday, General Motors India had hiked the price of its three models by up to 10,000 from the first week of September due to a sharp depreciation in the rupee against the dollar.

Earlier this month, BMW group had also hiked price of its products across models, including the Mini, by up to 5 per cent.

Last month, Audi had also hiked prices across its models in India by up to 4 per cent, a maximum of 4.42 lakh on its R8 model to offset the impact of the rupee depreciation and rise in input costs.

The rupee has been weakening against the dollar for a prolonged period. It had yesterday registered its biggest single-day fall of 256 paise to close at an all-time low of 68.80 against the dollar as global oil prices jumped, deepening concerns about the current account deficit and capital outflows.

The rupee free-fall is adversely affecting companies that import their products and parts to India.

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