New Delhi: Marcedes-Benz India will increase the prices of its select model range in India by 2% from October 2020.
The company still hasn’t mentioned the models specifically but it is confirmed that the new price will come into effect by the first week of October.
The reason stated by the officials for the hike of the price being the weakening of the Indian rupee compared to that of euro from the last six to seven months and also increase in the input cost adds to the whole of decision.
Another reason stated by the carmaker claimed that the introduction of new features like ‘Mercedes Me connect’ across its models has led to the upward revision of the price.
Martin Schwenk, the Managing Director & CEO of Mercedes-Benz India, commented on the latest development, and said, “The weakening of the currency since the beginning of the year, combining with a sharp increase in the input costs have been a matter of concern, creating significant pressure on our bottom line. To offset these costs and drive sustainable business, we have few options but to make some nominal yet necessary price adjustments. We as a customer-centric brand will be absorbing most of the impact, however passing in a portion of it up to 2 per cent, seems inevitable”.
The carmaker claims that even after a hike in price, customers who are planning to buy a car can still get benefited from the new finance options introduced according to the Wish Box 2.0 programme.
The company has introduced some new easy EMI options for its buyers during the festive seasons to suffice the buying sentiment. The C-Class sedan will be offered at a monthly EMI starting at Rs. 39,999 under the new sales campaign, the GLS SUV is offered at a starting EMI of Rs. 44,444 and the E-Class sedan is offered at a starting EMI of Rs. 49,999. These three models are offered at 7.99 per cent as rate pf interest and will be available for the complimentary insurance scheme for the first year.