Mercedes-Benz India has announced an increase in price of its entire model line up. The price increase ranges from 1-4% for locally produced models and upto 20% for some of the CBU imports. The price hike will come into effect from 1-April, 2013.
Mr. Eberhard Kern, Managing Director & CEO, Mercedes-Benz India commented, “There are several factors that have put significant pressure on our bottomlines. Rising input costs and volatile exchange rates have impacted us; while the recent changes in import duty structure and increase in relevant taxes have put significant stress on our business. We have absorbed a portion of the impacts but to retain business viability, we are forced to pass on a part of this burden to the consumers”.