Mercedes-Benz to Raise Prices in India From January 2016
Mercedes-Benz has announced that it will increase the price of its cars in India by up to 2 per cent from January 1, 2016. According to the company, the reason for this price hike is rising input costs.
"The price increase would be up to 2%, varying across the model range. The rising input cost is instrumental in the price revision of Mercedes-Benz products," Mercedes-Benz India said in a statement.
The German luxury carmaker sells a range of 24 models in India, starting with the A-Class, priced at Rs 27.5 lakh, going up to Rs 2.7 crore for the S63 AMG Coupe (all prices are ex-showroom, Delhi). The company has been on an aggressive run in the country, launching 14 products this year.
"Mercedes-Benz has been creating continuous value propositions for the Indian customers by offering the best products from our global portfolio in India. We have enhanced this value addition even further through our localisation efforts," Roland Folger, Managing Director and CEO, Mercedes-Benz India said.
"However, with rising input costs, we are compelled to make some price adjustments to our product range to protect the investment of our customers in the brand, maintain our premium brand positioning in the market and sustain a profitable business. We want to further enrich the strong foundation which we have created for the brand in India," Folger added.
"Despite the price increase, the smart and tailor-made financial offerings from Mercedes-Benz like STAR Finance, STAR Agility, STAR Lease or Corporate STAR Lease are specially designed for our discerning customers to drive home their dream Mercedes. These unique solutions provide benchmark value propositions, enabling a hassle free purchase. Similarly, our service programmes like STAR Ease, STAR Care, STAR Care Plus and On Road Assistance programmes further elevate the customer's overall ownership experience," he elaborated.
In the January-September 2015 period, Mercedes' sales in India stood at 10,079 units, which is an increase of 34% from the same period last year.
Last week, rival BMW had announced that it would increase the prices of its products by up to 3 per cent from January.