Mercedes-Benz today announced an increase in price of its entire model range in India. The company has taken this step owing to rising input costs and increase in customs and exicise duty after the 2013-14 Budget. The prices of the locally assembled cars will be increased between 1 to 4 per cent and for completely built units like the top-of-the-line G-Class and SLS AMG the hike will be close to20 per cent. The new prices will be affective from April 1.
“There are several factors that have put significant pressure on our bottom lines. Rising input costs and volatile exchange rates have impacted us; while the recent changes in import duty structure and increase in relevant taxes have put significant stress on our business. We have absorbed a portion of the impacts but to retain business viability, we are forced to pass on a part of this burden to the consumers." said Eberhard Kern, MD & CEO, Mercedes-Benz India.
