Leading luxury car brand, Mercedes Benz has announced an upcoming price hike across select models in its range. Effective from the first week of August, Mercedes would increase the ex-showroom prices of selected models by as much as 3%, varying from car to car. The hike comes due to an increase in customs duty on automotive parts and additional cess and excise duty on fuel which has been exerting significant pressure on overall operations. That said, the company’s STAR Finance schemes would allow customers to enable an optimum cost of ownership experience for the customers.
The ‘STAR Supersonic’ scheme also provides extremely fast loan approval, as fast as 30 minutes. Apart from that, the Star Agility+ is another product from Mercedes-Benz Financial Services, which offers up to 40% lower EMI than regular finance products, enhancing the flexibility and affordability of owning a Mercedes. Different aspects of the vehicle ownership ranging from finance, leasing and insurance to roadside assistance, cost of service, repairs and even residual value have been optimized under their financial solutions. One of the highlight offerings is the unmatched interest rate starting from 7.99% for the new generation models.
Mr Martin Schwenk, Managing Director & CEO, Mercedes-Benz India said, “As the leading luxury automobile maker in India, we have been relentlessly working on offering the best of products and industry benchmark customer service and ownership experience. However, a hike in customs duty on automotive parts, compounded by an increase in excise duty and cess on fuel have had a significant impact on our bottom line. We were left with fewer options, but to make some necessary price adjustments to our product range at the moment to offset the impact of the rising input costs.”
He further added, “Despite this moderate price revision, the innovative and tailor-made financial offerings from Mercedes-Benz like the recently launched STAR Agility+, STARFinance, STAR Lease, Corporate STAR Lease etc. are specially designed for our discerning customers to drive home their dream Mercedes. These unique solutions provide benchmark value proposition, enabling a hassle-free purchase. Similarly, our service programmes like star Ease, STAR Care, STAR Care Plus and On-Road Assistance programmes further elevate the customers’ overall ownership experience.”