As the festive season fast approaches the season of discounts also begins. But while many of the car companies are offering attractive discounts, Indian auto giant Maruti Suzuki has announced that it will increase the prices across its range.

Maruti said that it will increase the prices of its vehicles within a week due to the foreign exchange fluctuation and rising input costs. The company is also facing a slowdown in the sales of its petrol vehicles.

An official from the company said, “There is a lot of pressure on our margins. We will increase prices within a week but the details are being worked out”. Even Honda said that it will raise prices from October 1, 2012 due to input cost pressures.

Honda will be hiking the prices of the Brio and Jazz hatchbacks and the City sedans. The company said that the hike will be between 0.2-0.6 % and added, “The prices have been revised due to inflationary pressures and increase in freight as a result of the increase in diesel prices”. But the talks of price hike is surprising considering that the companies are already offering massive discounts . The vehicles like Alto, Wagon R, Estillo and A-Star already carry discounts between Rs. 30,000 and Rs. 35,000.