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Mercedes-Benz India has announced a price hike on select models in its product line-up in the country. The German luxury carmaker will increase prices from the 1st of August on certain specific models by up to 3 per cent.
Mercedes-Benz stated that the reason for the price hike was in rising input costs, including a hike in customs duty on automotive parts and the increase in excise duty has lead to Mercedes taking up the decision of increasing the price of their products in the country.
Martin Schwenk, Managing Director & CEO, Mercedes-Benz India stated,
"As the leading luxury automobile maker in India, we have been relentlessly working on offering the best of products and industry benchmark customer service and ownership experience. However, a hike in customs 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."
To support the customers, Mercedes-Benz will also be offering special service packages and other financial solutions. These include Star Agility+, Star Finance, Star Care and Corporate Star Lease among others.
Each of these programs and packages, allow customers to enjoy the ownership of a Mercedes-Benz vehicle, without worrying about the maintenance and overall ownership costs involved.
Regarding the financial and service packages, Schwenk stated,
"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. Similarly, our service programmes like STAR Ease, STAR Care, STAR Care Plus and On-Road Assistance programmes further elevate the customers' overall ownership experience."
Thoughts On The Mercedes-Benz Price Hike In India
Mercedes-Benz is the largest luxury carmaker in the country. The German brand offers a number of products in the Indian market starting with the entry-level A-Class all the way to its performance AMG products in the country. Mercedes-Benz India rivals other brands such as BMW, Audi and Jaguar in the country in the luxury car market.