Mercedes to hike prices by up to Rs 58 lakh from April
The hike in price ranges from 1-4 per cent for locally produced models, and up to 20 per cent for select CBUs (completely built units), the company said in a statement.
The company sells a rage of models starting from the B-Class to SLS AMG with price ranging between Rs 21.5 lakh and Rs 2.9 crore.
While the company did not share the break up of the price hikes, sources said the highest price hike could be on the imported luxury sports car SLS AMG, by about Rs 58 lakh.
At present, the company assembles its C Class, E Class and S Class sedans along with SUV M Class at its Chakan plant near Pune.
Mercedes-Benz India Managing Director & CEO Eberhard Kern said: "There are several factors that have put significant pressure on our bottomlines. Rising input costs and volatile exchange rates have impacted us, while the recent changes in import duty structure and increase in relevant taxes have put significant stress on our business.
"We have absorbed a portion of the impacts but to retain business viability, we are forced to pass on a part of this burden to the consumers."
In the Budget 2013-14, Finance Minister P Chidambaram had announced that basic customs duty on new passenger cars and other motor vehicles valued more than USD 40,000 and/or engine capacity over 3,000 cc for
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