Mercedes-Benz to increase price by 4% from next month

New Delhi: Mercedes-Benz India has announced an upward revision of the price of its entire model. The price hike will be from September 1.

“The price correction would be up to the range of a moderate 4 percent varying across the model range. The rising inflation due to geo-political dynamics, coupled with rising input costs and increasing forex rates has been exerting significant pressure on overall operations,” Mercedes-Benz said in a statement.

While the rupee has depreciated by more than 5 percent against the Euro in last 8 months, the Repo rate has gone up by 0.5 percent in last couple of months. The combination of all these factors led Mercedes-Benz India to upwardly revise the prices of its entire model range and also the retail finance rates, the company said.

Mercedes-Benz currently sells a range of sedans and SUVs starting from the A-Class to GLS luxury SUV and Maybach S560, priced between Rs 27.86 lakh and Rs 1.94 crore in the country.

Other auto majors including Maruti, Mahindra & Mahindra, Tata Motors and Honda Cars India have also announced price hikes from this month citing rising input cost.