Skoda Auto India Private Limited (SAIPL) has announced a hike in prices by up to Rs 50,000 for its entire model range starting from 1 January, 2016. The price increase will translate into an increase of around Rs 14,000 to Rs 50,000 depending on the model and the variant.

"The increase will vary from 2 to 3% across the entire product portfolio. The new prices effective from January 1, 2016, are in line with increasing input cost and changing market conditions," Skoda Auto India said in a statement.

SAIPL currently sells Rapid, Octavia and Superb sedans, and the Yeti crossover in India. The model range prices starts at Rs 7.55 lakh for Rapid and goes up to Rs 26.83 lakh for Superb sedan, all prices ex-showroom Delhi.

Many car manufacturers have already announced increase in prices starting from next year. Maruti Suzuki cars will get costlier by up to Rs 20,000 depending on models. Hyundai Motor India Limited, GM India, Toyota Kirloskar Motors, Tata Motors, Renault India, Nissan India, BMW India and Mercedes-Benz India are also set to increase the price of their models by about 2-3% from January.

The proposed price increase will also prompt prospective customers to buy a car before the hike comes into effect, which in turn will benefit the manufacturers to find healthy volumes amid the sluggish sales after festive season.