Top carmaker, Maruti Suzuki said on Wednesday that it will likely raise prices ​as the Middle East war has pushed up commodity prices, ‌wiping out gains from last year's consumption tax cuts.

The Iran war has driven up the prices of everything from oil and gas to key metals used ​in manufacturing vehicles.

The carmaker, majority-owned by Japan's Suzuki Motor said ​it has not faced any supply disruptions, but acknowledged potential disruptions ⁠in the future.

"We will be taking a call, but unfortunately ​the commodity prices are going very high, we need to pass it ​on, so we will come back very soon on that," Partho Banerjee, Maruti's sales chief, told reporters during a monthly sales call.

The price hike could hit a ​demand upswing for Maruti's small cars, following India's sweeping tax cuts ​in September that drew price-sensitive customers back to dealerships.

The automaker's domestic sales dropped ‌5.8% ⁠between April and September, but jumped 12% between October and March, with demand for small cars outpacing supply and wait times for deliveries stretching to a month.

On Wednesday, Maruti reported a 10% year-on-year rise in ​domestic sales to ​dealers during March ⁠and a 43% jump in exports.

Shipments to the Middle East, which account for 12.5% of Maruti's annual ​export volume, are expected to be delayed, Rahul Bharti, ​senior ⁠executive officer for corporate affairs, said.

Meanwhile, Hyundai Motor India reported a 10% drop in its overseas shipments in March. The Middle East contributes 40% ⁠of ​the firm's total exports, making it the ​Indian carmaker most exposed to the region.

Hyundai Motor India posted a 6% rise in domestic sales.