Mercedes-Benz: Mercedes-Benz India hikes costs by 2% to offset impression of foreign money volatility

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NEW DELHI: Mercedes-Benz India on Monday introduced an upward revision of the value of its choose mannequin vary efficient first week of October 2020. The worth correction can be as much as the vary of a 2%, various throughout the choose mannequin vary.
The weakening of the Indian foreign money in comparison with the euro for the reason that previous six to seven months, mixed with a rise in enter prices have been exerting important strain on the general operations, India’s largest luxurious carmakers mentioned.
With the typical change charge of rupee for euro going up from Rs 79 in February to Rs 87 in August, the corporate’s enter prices have gone up.
Martin Schwenk, Managing Director & CEO, Mercedes-Benz India mentioned, “Because the main luxurious automotive maker in India, it stays our endeavor to supply the most recent merchandise, better of applied sciences, service providing and possession expertise to our clients. Nonetheless, the weakening of the foreign money for the reason that starting of the yr, mixed with a pointy enhance within the enter prices have been a matter of concern, creating important strain on our backside line. To offset these prices and drive a sustainable enterprise, now we have few choices however to make some nominal but essential worth changes. We as a buyer centric model might be absorbing a lot of the impression, nonetheless passing on a portion of it as much as 2%, appears inevitable.”

At the moment, Mercedes-Benz India sells a variety of luxurious automobiles ranging from the C-Class priced at Rs 41 lakh (ex-showroom) to AMG GT Coupe tagged at Rs 2.5 crore (ex-showroom).
The German carmaker can be planning to usher in its first electrical SUV EQC in India throughout the festive season.