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Mercedes-Benz India Increases Price Across Lineup
A price hike by Mercedes-Benz, along with other international brands was expected after the introduction of higher duties by the government. According to Mr. Eberhard Kern, Managing Director & CEO, Mercedes-Benz India, the automaker has absorbed some of the cost to reduce impact on customers.
Press Release
Pune: Mercedes-Benz India today announced an increase in price of its entire model range. The increase in price ranges from 1-4% for locally produced models and upto 20% for select CBUs. The price hike will be effective from 1-April, 2013.
Mr. Eberhard Kern, Managing Director & CEO, Mercedes-Benz India commented, "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. 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".
Despite the increase in prices, the value proposition offered by Mercedes-Benz remains a benchmark. The company recently rolled out its campaign "Merconomics", to ensure the most optimum cost of ownership in the luxury automotive domain. Eberhard Kern elaborated: "We have analyzed every aspect of vehicle ownership starting from finance-leasing-insurance to roadside assistance, cost of service and repairs, going all the way till the residual value offered by the car. Each of these aspects has been optimized under Merconomics with the net result that the customer today can enjoy a hassle free ownership with clear understanding that the cost of ownership over the lifecycle of their Mercedes-Benz is second to none in the comparative domain".
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