Mercedes-Benz India on Thursday announced an upward revision of prices for its entire range of models effective September 1. The quantum of price revision will be in the range of 2.5-4.5%. Higher import duties and rising input costs, coupled with a host of other unfavourable factors such as higher interest rates, have been impacting bottomlines, the company said.
ďThe rising input costs along with higher import duties have been creating significant pressure on our bottomline for quite sometime now. The constant weakening of the Indian currency and the increase in other relevant taxes further impacted the business, adversely. We have been absorbing a significant portion of the impact till now, but to run a sustained and profitable business in the long run, revising the prices upwards was inevitable,Ē said Eberhard Kern, managing director and CEO, Mercedes-Benz India.
With the latest price revision, the new A 180 CDI luxury compact will now be priced at R22.05 lakh, an increase of 4%.The B 180 CDI Luxury Tourer will now be dearer by 4% at R23.50 lakh.
Meanwhile, General Motors said it would also raise prices of some its vehicles in India by up to R10,000 from the first week of September, citing a hit on margins due to a weakening rupee.