Mercedes-Benz India Hikes Prices Of Its Cars By Up To 4 Per Cent

Mercedes-Benz India has announced that it will be increasing the prices of its India portfolio by up to 4 per cent, depending on the model. The revised prices will come into effect from 1 September, 2018. Mercedes said that he rising inflation due to geo-political dynamics, coupled with rising input costs and increasing forex rates has been exerting significant pressure on overall operations. Adding to the price hike is the depreciation of the rupee against the Euro in the last 8 months and the repo rate also has gone up by 0.5 per cent. All these reasons led the company to hike the prices.

Roland Folger, Managing Director & CEO, Mercedes-Benz India commented, "As the leading luxury automobile maker in India, we have been relentlessly working on offering the best of products and industry benchmark customer service and ownership experience. This is the very philosophy that led us to maintain our steady price positioning over the last few months. However, a steady rise in input costs against the backdrop of an unfavorable forex rate and high inflationary cost together, have had a significant impact in the recent past. We have been watching this trend cautiously and avoided any price changes in the recent past. Considering the rapid depreciation of the rupee against the major currencies in last few days, we were left with fewer options, but to make some necessary price adjustments to our product range at the moment."

However, Mercedes-Benz will also be offering new financial packages for its cars, which will make it easier for prospective buyers. Mercedes' STAR finance schemes have 30 to 40 per cent lower EMIs than other financial institutions hence, it becomes easier for people looking to add a Mercedes-Benz to their garage. Apart from financial solutions, Mercedes will also be offering a variety of service packages and extended warranty programs as well.