Mercedes-Benz will hike prices of select models in its range in India from the first week of October 2020. The company has said that there would be an increase of up to two per cent varying across the range of products.
Speaking on the occasion, Martin Schwenk, Managing Director and CEO, Mercedes-Benz India, said, “As the leading luxury car maker in India, it remains our endeavor to offer the latest products, best of technologies, service offering and ownership experience to our customers. However, the weakening of the currency since the beginning of the year, combined with a sharp increase in the input costs, have been a matter of concern, creating significant pressure on our bottom line. To offset these costs and drive a sustainable business, we have few options but to make some nominal yet necessary price adjustments. We as a customer-centric brand will be absorbing most of the impact, however passing on a portion of it up to two per cent, seems inevitable. Despite the nominal price revision, our specially designed financial programs like Wish Box 2.0 and a host of service packages will enable the discerning customers to drive home their favourite Mercedes-Benz and enjoy the vehicle ownership associated with Mercedes.”
The weakening of the Indian currency compared to the euro in the past six to seven months, combined with an increase in input costs have been exerting pressure on the overall operations. Mercedes-Benz also revealed that the company has been introducing new technologies and features such as ‘Mercedes Me connect’ across its product portfolio. The combination of all these factors led Mercedes-Benz India to correct the prices of its select model range.
