Ford Motor India plans to hike prices by up to Rs 19,000 on mid-size car Ikon next month after steep increase in steel prices raised input costs and put pressures on margins.

The Ikon Flair will be costlier by Rs 15,000 to Rs 19,000, while an across-the-board price hike would in the range of 2-3 per cent, Ford Motor India vice-president (marketing and sales) Vinay Piparsania said from Chennai.

"Rise in input costs, especially steel and rubber made the price hike inevitable. We tried our best to absorb costs," he said.

The Indian arm of US-based second-biggest carmaker manufactures Ikon at its plant near Chennai and imports luxury sedan Mondeo from Belgium and brings sports utility vehicle Endeavour as completely built units from its facility in Thailand.

Hyundai Motor, India's second-biggest carmaker, jacked up prices of one variant of its  mid-size car Accent by Rs 14,000 on Monday and said it would soon announce price rise on other Accent models, while compact car Santro will follow suit soon.

Car market leader Maruti has also said it would decide on the price hike this week.