Mercedes-Benz India, yesterday, announced an increase in the price of its entire model range effective from January 1st, 2016. The price increase would be in the range of up to two per cent across the model range. Mercedes-Benz has cited rising input costs to be the reason behind the price revision.
Roland Folger, Managing Director and CEO, Mercedes-Benz India commented, “Mercedes-Benz has been creating continuous value propositions for the Indian customers by offering the best products from our global portfolio in India. We have enhanced this value addition even further through our localisation efforts. However, with rising input costs, we are compelled to make some price adjustments to our product range to protect the investment of our customers in the brand, maintain our premium brand positioning in the market and sustain a profitable business. We want to further enrich the strong foundation which we have created for the brand in India.”
Mr. Folger added that despite the price increase, smart and tailor-made financial offerings from Mercedes-Benz like STAR Finance, STAR Supersonic and STAR Agility have been specially designed for customers to drive home their dream Mercedes car. While STAR Finance schemes give tailor-made financial solutions with an unmatched interest rate of 9.99 per cent, the STAR Supersonic scheme provides an extremely fast loan approval (in merely 30 minutes). STAR Agility is another unique and innovative product from Mercedes-Benz Financial Services which enhances the flexibility and affordability of owning a Mercedes-Benz.
Last month BMW announced a three percent price hike across the BMW and Mini range of vehicles and backed their decision to be a continuation of their endeavour to offer exceptional products. Mercedes-Benz was quick to respond and follow their counterpart's footsteps.