Small cars, sports utility vehicles, and sedans have become costlier with automakers raising prices to partially absorb the impact of high material costs from April 1. The rise in prices of raw materials due to COVID-19 related disruptions and the outbreak of the Russia-Ukraine have led to price hikes in the range of 1-5 percent. Rising semiconductor chip costs coupled with lower sales of passenger vehicles have made it hard for automobile companies to absorb a hit on their operating margins.