Press Esc to close
Friday 31 October 2014
News updated at 10:18 AM IST
Weather
Max: 28.4°C
Min : 18°C
In Bangalore
Partially cloudy

Mercedes raises car prices in India

Pune, Aug 29, 2013 (IANS)



German luxury automobile manufacturer Mercedes-Benz India Thursday said it is increasing prices of its entire range of models by between 2.5 percent-4.5 percent from Sep 1, an official said.


The decision follows the sharp depreciation in the rupee value, high import duty and rising input costs.


"Rising input costs along with higher import duties have been creating significant pressure on our bottomlines for quite some time now," said Eberhard Kern, managing director and chief executive, Mercedes-Benz India.

"Constant weakening of the currency and the increase in other relevant taxes further impacted the business, adversely."

The Indian rupee has lost more than 19 percent against the dollar since the beginning of the financial year. On Wednesday, the partially-convertible rupee touched a new record low of 68.80 against the dollar.

Go to Top

Photo Gallery
Security personnel patrol a street after a protest by the supporters of Jammu and Kashmir...

Security personnel patrol a street after a protest by the supporters of Jammu and Kashmir...

India A players Rohit Sharma and Manish Pandey during a practice match against Sri Lanka...

India A players Rohit Sharma and Manish Pandey during a practice match against Sri Lanka...

Indian Air Force officers arrive at the Gateway of India after swimming for a distance...

Indian Air Force officers arrive at the Gateway of India after swimming for a distance...

The Navy hovercraft carrying West Bengal Chief Minister Mamata Banerjee to Sagar Island...

The Navy hovercraft carrying West Bengal Chief Minister Mamata Banerjee to Sagar Island...

A Rajasthani herder with his cows in Gurgaon...

A Rajasthani herder with his cows in Gurgaon...

Devotees wait for the Sun to offer prayers, during Chhath Puja festival in Agra...

Devotees wait for the Sun to offer prayers, during Chhath Puja festival in Agra...

Sand artist Sudarsan Pattnaik creates a sand sculpture on Black Money with a message...

Sand artist Sudarsan Pattnaik creates a sand sculpture on Black Money with a message...

BJP workers arrange the cut-outs of party symbol (lotus) to decorate the boats at the Marine...

BJP workers arrange the cut-outs of party symbol (lotus) to decorate the boats at the Marine...

A police man investigates the tunnel dug up by the robbers in Gohana bank heist, in Sonipat...

A police man investigates the tunnel dug up by the robbers in Gohana bank heist, in Sonipat...

Bollywood megastar Amitabh Bachchan sweeps in a stree during a cleanliness drive as a part...

Bollywood megastar Amitabh Bachchan sweeps in a stree during a cleanliness drive as a part...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bangalore - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523