Mercedes-Benz India, the Indian arm of the German automobile manufacturer Mercedes-Benz has announced a price hike across its Indian car portfolio effective from January 2013. The reason for the price hike has stated to be the increase in input costs and currency fluctuations.
According to Mr. Eberhard Kern Managing Director & CEO Mercedes-Benz India, the cost escalations which have been absorbed by the company cannot be sustained. He added that the company has to justify the investments made in the Indian car market and adhere to the responsibilities to its employees and dealer partners.
The German carmaker has so far made an investment of Rs 850 crore in the India car industry and has set up a production facility at Chakan near Pune with a capability of producing 10,000 units annually. The company has also set up a technologically advanced Paint Shop which has the capability of 20,000 units annually and has 72 dealerships across 31 cities in India.
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