NEW DELHI: India’s largest luxury carmaker Mercedes-Benz India on Monday announced an upward revision of the price of its select model range effective the first week of October 2020. The price correction would be up to the range of a moderate 2%, varying across the select model range.
The German carmaker said that the weakening of the Indian currency compared to the Euro since the past six to seven months, combined with an increase in input costs have been exerting significant pressure on the overall operations.
Martin Schwenk, Managing Director & CEO, Mercedes-Benz India said, “To offset these costs and drive sustainable business, we have few options but to make some nominal yet necessary price adjustments. We as a customer-centric brand will be absorbing most of the impact, however passing on a portion of it up to 2%, seems inevitable.”
He added, “Despite the nominal price revision, our specially designed financial programmes like Wish Box 2.0 and a host of service packages will enable the discerning customers to drive home their favourite Mercedes-Benz and enjoy the vehicle ownership associated with Mercedes.”
The average exchange rate of rupee for euro has gone up from Rs 79 in February to Rs 87 in August.
At present, Mercedes' India lineup starts from the C-Class priced at Rs 41 lakh (ex-showroom) to AMG GT Coupe tagged at Rs 2.5 crore (ex-showroom). It is also planning to bring in its first electric SUV EQC in India during the festive season.