Mercedes-Benz India to hike prices by up to 3 per cent

India’s largest luxury carmaker Mercedes-Benz India, on Wednesday, announced an upward revision in the price of its entire model range effective from the first week of January, 2020.

The correction in the price would be up to the quantum of 3 per cent varying across the broad model range. The upcoming price hike aims at offsetting the increase in various input and commodity costs, from January 2020.

Martin Schwenk, Managing Director & CEO, Mercedes-Benz India said, “We have been reviewing the various cost escalations, including the rise in the commodity and input costs that have been exerting pressure on our bottom line. To run a sustainable business and protect our customers’ investment in the brand, there is a need to offset the impact of these rising costs through a moderate price correction. Though we have been absorbing the majority of these, we are left with few options but to pass on some of the additional costs to our customers.

“Despite this moderate price revision, the innovative and tailor-made financial offerings from Mercedes-Benz Financial Services like Star Agility+, Wish Box, Star Finance etc. that are specially curated for our discerning customers, will support them in bringing home their cherished Mercedes-Benz. 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 will further elevate the customers’ overall ownership experience,” he added.