After announcements by almost all major manufacturers in India, it’s time for the folks at the other end of the band to hike prices of their products. Post the Government’s decision to put an end on charging concessional excise duty rates, Mercedes-Benz India today announced an upward revision of the price of its entire model range effective from 22-January, 2015. The quantum of price increase would be up to 4%, varying across the model range.
Mr. Eberhard Kern, Managing Director & CEO, Mercedes-Benz India commented, “Mercedes-Benz India offers the ‘Top of Pyramid’ products for its discerning customers, creating more value to the total cost of ownership. The excise duty cut was of much relief to the automotive sector in general and luxury cars, in particular. However, the end of excise benefit left us with no option but to pass on the additional cost to our customers. Mercedes-Benz India is on a strong growth curve with a clear focus on maintaining a profitable and sustainable growth. We want to maintain our premium brand positioning in the market and sustain the strong foundation which we have created for the brand in India.”