Price hike alert! Mercedes-Benz India to increase car rates - Why they took this step
Luxury carmaker Mercedes-Benz India on Wednesday announced an upward revision of the price of its select model range effective first week of August, 2019. The price correction would be up to 3%, varying across the model range. Mercedes-Benz India recorded retail sales of 6561 units in the period Jan-June 2019.
Why Mercedes-Benz India took this price hike decision?
Mercedes-Benz India has stated the factors that led it to take this price hike decision. According to a statement issued by Mercedes-Benz India, "The current increase in custom duty on automotive parts and additional cess and excise duty on fuel has been exerting significant pressure on overall operations. The combination of all these factors led Mercedes-Benz India to correct the prices of its select model range."
Reacting to the upward revision of the prices, Martin Schwenk, Managing Director & CEO, Mercedes-Benz India said, “A hike in custom duty on automotive parts, compounded by an increase in excise duty and cess on fuel have had a significant impact on our bottom line. We were left with fewer options, but to make some necessary price adjustments to our product range at the moment to offset the impact of the rising input costs.”
Schwenk further adds, “Despite this moderate price revision, the innovative and tailor-made financial offerings from Mercedes-Benz like the recently launched STAR Agility+, STAR
Finance, STAR Lease, Corporate STAR Lease etc. are specially designed for our discerning customers to drive home their dream Mercedes. These unique solutions provide benchmark
value proposition, enabling a hassle free purchase. ”
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Mercedes-Benz India: PORTFOLIO - What all it offers?
The current product portfolio comprises off-roader Mercedes-AMG G 63 as well as well as other Mercedes-AMG performance cars like the AMG CLA 45, AMG C 63 S, AMG E 63 S, AMG S 63 Coupé, AMG S 63 Sedan, AMG GLA 45, AMG GLC 43 Coupé, AMG GLE 43 Coupé, AMG GT S, AMG GT R and AMG GT Roadster sports car, AMG SLC 43 and AMG C 43.
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