Mercedes-Benz India has announced a hike in prices across its entire range of models in India.
The increase ranges from 1 per cent to 4 per cent for locally produced models and up to 20 per cent for select completely built units (CBUs) which are imported, the company said in a statement adding that the increase in price would be effective April 1.
Rising input costs
“There are several factors that have put significant pressure on our bottomlines. 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,’’ Eberhard Kern, Managing Director & CEO, Mercedes-Benz India said in a statement.
“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,” Mr. Kern said.
This is the second hike in the price of its model range in India announced by the luxury car maker during this calendar. In mid-January, it had hiked prices across its model range by 1-3 per cent.