Mercedes-Benz India Hikes Price Of Entire Range By 2 Percent

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German auto giant Mercedes-Benz has announced that it will hike prices of its entire product lineup in India by 2 percent, effective January 1, 2017.

Mercedes-Benz India Hikes Price Of Entire Range By 2 Percent

Mercedes-Benz India said in a statement, "The rising inflation coupled with rising input costs and increasing forex rates have been exerting significant pressure on the bottom line."

Mercedes-Benz India Hikes Price Of Entire Range By 2 Percent

The carmaker insists that owing to negative customer sentiments, the company has only passed on minimum offset cost on the customers. The German marque sells a range of products in India starting from the Rs 27 lakh A-Class to the Rs 2.6 crore Mercedes-Maybach S600.

Mercedes-Benz India Hikes Price Of Entire Range By 2 Percent

Mercedes-Benz India MD Roland Folger said, "A steady rise in input costs against the backdrop of increasing forex rates and high inflationary cost together have eroded our bottom line.

Mercedes-Benz India Hikes Price Of Entire Range By 2 Percent

"We were left with fewer options but to make some necessary price adjustments to our product range in order to protect the investment of our customers."

Mercedes-Benz India Hikes Price Of Entire Range By 2 Percent

He added, "We, hence, decided to absorb a higher impact of these adversary factors on our price and pass a lesser part of it to customers, considering the current negative customer sentiment.

Mercedes-Benz India Hikes Price Of Entire Range By 2 Percent

"We want to maintain a sustainable business in this dynamic market and want to retain our premium brand positioning."

Mercedes-Benz India Hikes Price Of Entire Range By 2 Percent

Along with Mercedes, several other manufacturers including Hyundai, Nissan, Toyota Kirloskar and Renault has also made a decision to increase prices from January.

Read more on: #mercedes benz #auto news
Story first published: Friday, December 16, 2016, 10:19 [IST]
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