Mercedes-Benz has announced a price hike across its car model portfolio in India effective September 1, 2013. The price hike implemented by the German luxury automobile manufacturer ranges from 2.5 to 4.5 percent.
The carmaker has attributed high import duties, increase in input costs and high interest rates along with the depreciation of the Indian Rupee among the factors that have forced it to make the price hike move.
According to Mr. Eberhard Kern, Managing Director & CEO, Mercedes-Benz India, the auto manufacturer has been absorbing a significant portion of the pressure exerted by such economic factors on profit margins. He added that the price hike was inevitable in order to sustain a profitable business by transferring a part of the increment in cost burden to the customers.
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