Starting from the 1st of September 2018, Mercedes-Benz India will revise the ex-showroom price of its entire model range by up to 4% . According to the German carmaker, this increase has come in because of factors comprising rising input costs, increasing inflation and an upward moving forex rate have been consistently exerting significant pressure on operations.
Roland Folger, Managing Director & CEO, Mercedes-Benz India commented, “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. This is the very philosophy that led us to maintain our steady price
positioning over the last few months. However, a steady rise in input costs against the
backdrop of an unfavorable forex rate and high inflationary cost together, have had a
significant impact in the recent past. We have been watching this trend cautiously and
avoided any price changes in the recent past. Considering the rapid depreciation of the
rupee against the major currencies in last few days, we were left with fewer options, but
to make some necessary price adjustments to our product range at the moment.”
While the INR has depreciated by more than 5% against the Euro in last 8 months, the Repo rate has gone up by 0.5% in last couple of months. The combination of all these factors led Mercedes-Benz India to upwardly revise the prices of its entire model range and also the retail finance rates.
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