New Delhi, Aug 18: German luxury carmaker Mercedes-Benz India will hike prices of its products by up to 2.5 per cent from next month in the country to partially offset rising input costs and high exchange rate.
The quantum of price increase would be up to 2.5 per cent depending upon the model range, effective from September 1, Mercedes-Benz India said in a statement.
“Rising input costs coupled with other factors like continued high exchange rate have been impacting the bottom- line, making a price revision inevitable,” it added.
Mercedes Benz sells a range of luxury cars and sports utility vehicles in India, including compact cars A Class and B class, sedans C Class, E Class and S Class and G63 AMG, priced between Rs 26.19 lakh and Rs 1.85 crore.
Commenting on the development, Mercedes-Benz India Managing Director & CEO Eberhard Kern said the company has decided to upwardly revise the prices of some of its models given the rising input costs and continued high exchange rate.
“Our aim remains to grow sustainably in the market in the long-term and keep creating new benchmarks in modern luxury for our customers,” Kern added.