Saar: The entire range will receive a bump in the asking price by up to 4 per cent.

India’s largest premium carmaker Mercedes-Benz has announced that it will hike prices of its entire product range by up to 4 per cent from September 1, 2018. The reasons cited for this step include “geo-political dynamics”, rising inputs costs and increasing forex rates. Moreover, the depreciation of the Indian currency, which has dropped more than 5 per cent against Euro in the last eight months, has fuelled the company towards increasing the prices. Mercedes-Benz India also pointed out that even the Repo rate has gone up by 0.5 per cent in the last couple of months.

Here’s what Roland Folger, who is the managing director & CEO at Mercedes-Benz India, had to say about this developed in a press release:

“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. This is the very philosophy that led us to maintain our steady price positioning over the last few months. However, a steady rise in input costs against the backdrop of an unfavourable forex rate and high inflationary cost together, have had a significant impact in the recent past. We have been watching this trend cautiously and avoided any price changes in the recent past. Considering the rapid depreciation of the rupee against the major currencies in last few days, we were left with fewer options, but to make some necessary price adjustments to our product range at the moment.”

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Mercedes-Benz India has labelled this price revision as a moderate one. To make things easier for the buyer, the company has varied financial support services such as Star Agility, Star Finance and Star Lease. Similarly, it has a number of service programmes like Star Ease, Star Care and Star Care Plus which help in delivering a hassle-free ownership experience.