Luxury carmaker Mercedes-Benz India has hiked prices across its models by up to 3 per cent, effective from the first week of January.
The price hike aims at offsetting the increase in various input and commodity costs. The correction in the price would vary across models, the company said in a statement.
“We have been reviewing the various cost escalations, including the rise in the commodity and input costs that have been exerting pressure on our bottom line. To run a sustainable business and protect our customers’ investment in the brand, there is a need to offset the impact of these rising costs through a moderate price correction,” Martin Schwenk, Managing Director and CEO at Mercedes-Benz India said.
“Though we have been absorbing the majority of these, we are left with few options but to pass on some of the additional costs to our customers,” he added.