- The ex-showroom price of Mercedes-Benz’s select models will increase by up to two per cent
- The weakening of the currency and increased rise in input cost lead to price hike
Mercedes-Benz India has announced an upward price revision on select models, beginning from the first week of October 2020. The price correction would be up to two per cent, varying across the range.
The weakening of the Indian currency compared to the euro in the past six to seven months, combined with an increase in input costs have been exerting pressure on the overall operations. Mercedes-Benz also revealed that the company has been introducing new technologies and features such as ‘Mercedes Me connect’ across its product portfolio. The combination of all these factors led Mercedes-Benz India to correct the prices of its select model range. Last week, the brand launched a customer campaign called ‘Unlock with Mercedes-Benz’, details of which are available here.
Speaking on the occasion, Martin Schwenk, Managing Director and CEO, Mercedes-Benz India, said, “As the leading luxury car maker in India, it remains our endeavor to offer the latest products, best of technologies, service offering and ownership experience to our customers. However, the weakening of the currency since the beginning of the year, combined with a sharp increase in the input costs, have been a matter of concern, creating significant pressure on our bottom line. To offset these costs and drive a sustainable business, we have few options but to make some nominal yet necessary price adjustments. We as a customer-centric brand will be absorbing most of the impact, however passing on a portion of it up to two per cent, seems inevitable. Despite the nominal price revision, our specially designed financial programs like the Wish Box 2.0 and a host of service packages will enable the discerning customers to drive home their favourite Mercedes-Benz and enjoy the vehicle ownership associated with Mercedes.”