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Mercedes-Benz India has announced that they will be hiking the prices of its select model range effective first week of October this year. The ex-showroom price of Mercedes-Benz's Select model range will be an upward revision of 2 per cent.
So why has this step been taken? Well, there are many factors and some of them are the weakening of the currency since the last 6 to 7 months, combined with the increased rise in input costs have been exerting significant pressure on the operations. Furthermore, the company introduced new technologies and features like 'Mercedes Me connect' across its product portfolio, which also led to the price hike.
Martin Schwenk, Managing Director & CEO, Mercedes-Benz India said, "As the leading luxury car maker in India, it remains our endeavor to offer the latest products, best of technologies, service offering and ownership experience to our customers. However, the weakening of the currency since the beginning of the year, combined with a sharp increase in the input costs have been a matter of concern, creating significant pressure on our bottom line. To offset these costs and drive a sustainable business, we have few options but to make some nominal yet necessary price adjustments. We as a customer centric brand will be absorbing most of the impact, however passing on a portion of it up to 2%, seems inevitable."
"Despite the nominal price revision, our specially designed financial programmes like Wish Box 2.0 and a host of service packages will enable the discerning customers to drive home their favourite Mercedes-Benz and enjoy the vehicle ownership associated with Mercedes," he further added.
Mercedes-Benz is also set to bring in their first fully-electric offering in the Indian market, the EQC 400. The Mercedes-Benz EQC 400 electric SUV has been listed on the company's official website, indicating that its launch will take place sometime soon. The electric powertrain is said to produce 405bhp of power and 765Nm of peak torque and a claimed driving range of 400km on a single charge.
Thoughts About The Hike In Price By Mercedes-Benz
The price hike done by Mercedes is justified. This was done due to the increase in the cost of production, which shot up due to the COVID-19 pandemic making the Indian currency weak. The cost has also gone up due to the new features and technologies that the company introduced across its portfolio.