NEW DELHI: Luxury cars are to get pricier as Mercedes-Benz India has announced an upward revision in price of its entire model range effective April 1, 2022. The imminent price correction would be in the range of 3 per cent, across the entire model range, roughly translating to Rs 50,000-Rs 5 lakh, depending on the model.
The German carmaker said that an increase in input costs in addition to an increase in logistics costs have been exerting significant pressure on the overall costs of the company. The rising input costs also led to a significant increase in the company's operational costs, prompting Mercedes-Benz to revise the ex-showroom price of the entire model range in its endeavour to operate a sustainable and fundamentally strong business.
Mercedes-Benz India MD and CEO Martin Schwenk said, "To run a sustainable business a price correction is necessary to offset the continuous rise in input and operational costs." Earlier in March, German brand Audi implemented a similar hike of up to 3 per cent on its portfolio models.