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Business News/ Auto News / Mercedes-Benz India increases prices on its complete range: Check all details
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Mercedes-Benz India increases prices on its complete range: Check all details

According to the automaker, the price hike will be done to off-set the inflationary pressure and rise in input costs. Moreover, the price hike would be different for vehicles depending on the model.

Mercedes-Benz hikes prices across its entire range. Premium
Mercedes-Benz hikes prices across its entire range.

Mercedes-Benz India has announced that it will hike the prices of its entire mode range by up to five percent from January 01, 2023. According to the automaker, the price hike will be done to off-set the inflationary pressure and rise in input costs. Moreover, the price hike would be different for vehicles depending on the model.

Commenting on the price hike, Martin Schwenk, Managing Director and CEO at Mercedes-Benz India said, “Mercedes-Benz has been creating benchmarks in the luxury automotive industry in India, introducing world-class products and technologies for the discerning customers. However, to run a sustainable and profitable business for us and our Franchise Partners, a price correction is necessitated to offset the rising inflationary cost pressures."

“Though we are absorbing the majority of the increase, we are left with no option but to pass on some portion of the cost hike to the customers. The price correction will ensure the brand’s premium price positioning and continue to offer best-in-class ownership experiences associated with Mercedes-Benz," adds Schwenk.

The automaker has currently locally produced as well imported vehicles in the Indian market. They have the A-Class Limousine, new generation C-Class, E-Class Long Wheelbase, S-Class and Mercedes Maybach S 580, along with the GLA, GLC, GLC Coupe and many others.

Meanwhile, Audi India has also announced on Wednesday that the company will hike the prices for the new year and confirmed an increase of up to 1.7 percent across all its model range. These new prices will be effective from January 1, 2023 and the manufacturer says these could not be avoided due to rise in input and operational costs.

Commenting on the price hike, Balbir Singh Dhillon, Head of Audi India said, “The primary objective of Audi India’s business strategy focuses on a model that begets profitability and sustainability. The price correction is affected as a result of the rising supply-chain related input and operational costs. The new price range for our models is directed at maintaining the premium price positioning of our brand, ensuring sustainable growth for Audi India and our dealer partners. As a brand, we have always focused on human centricity and we continue to ensure that the impact of the price hike is as minimal as possible for our customers."

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Published: 07 Dec 2022, 05:46 PM IST
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