The company cited a depreciation of the Indian currency against the Euro and increased input costs, including logistics, as reasons for the upward revision.
09 Mar 2023 | 9487 Views | By Manobhava Baruah
Mercedes-Benz India, India’s largest luxury car manufacturer, has announced a price increase of up to 5 percent across its model range, effective from April 1, 2023. This comes on the back of a 5 percent price hike that the luxury vehicle maker announced back in December 2022.
“Mercedes-Benz offers ...
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Mercedes-Benz India, India’s largest luxury car manufacturer, has announced a price increase of up to 5 percent across its model range, effective from April 1, 2023. This comes on the back of a 5 percent price hike that the luxury vehicle maker announced back in December 2022.
“Mercedes-Benz offers the latest model line-up featuring next-gen technology, connected services, luxury appointments and a differentiating customer service. The continuous weakening of the currency combined with increasing input costs have resulted in increased operational cost, necessitating a price adjustment” said Santosh Iyer, Managing Director and CEO, Mercedes-Benz India in a company statement.
The company acknowledged that these factors have been exerting significant pressure on its overall operational costs. While Mercedes-Benz India has been absorbing a substantial portion of the previously mentioned costs, the company believes that some of it needs to be passed on to consumers to sustain a profitable business.
Source: Mercedes-Benz India