PTI reported that German luxury car maker Mercedes Benz today will hike the prices of its vehicles in India from January to offset cost escalations.
Mercedes-Benz India in a statement said that “A constant increase in input costs and unfavorable exchange rates coupled with inflation has posed a severe strain on margins.”
However, the company did not specify the quantum of the proposed price hike.
Mr Eberhard Kern MD & CEO of Mercedes-Benz India said that “We aim for a sustainable profitable growth maintaining our premium appeal and hence, we are going to substantially increase the prices of all Mercedes-Benz cars from January 2013.”
Mr Kern said that a significant level of cost escalations have been absorbed by the company till now, but beyond a point it could continue to sustain such levels.
Mercedes-Benz India sells a range of luxury vehicles, including the B Class, C-Class, E-Class, S-Class, M-Class and the GL class with prices starting at INR 21.9 lakh and going up to INR 1.07 crore.
