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India’s largest luxury car maker Mercedes-Benz India announced an increase in its cars’ price - in the range of five per cent - which would be effective from January 15.
The price increase would range between ₹2 lakh for a C-Class to ₹15 lakh for an AMG GT 63 s 4 Door Coupe, the company said. The price hike would be across its model range.
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 costs, the company said in a statement.
A combination of all these factors led to a significant increase in the company’s operational costs, prompting it to revise the ex-showroom of the entire model range, it added.
“We have been operating a sustainable and future-ready business; however, a necessary price correction is required to offset the continuous rise in input and operational costs. The new price range of our select vehicles will ensure the brand’s premium price positioning, assuring a sustainable growth both for the brand and our dealer partners, enabling the continuation of the best-in-segment customer ownership experiences, equated with Mercedes-Benz,” said Martin Schwenk, Managing Director & CEO, Mercedes-Benz India..
Sales in the luxury car segment are estimated to have declined by 40 per cent in 2020 amid the Covid-19 pandemic.
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