Rupee Pain: Now Mercedes Cars To Cost More

Thursday, August 29, 2013
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New Delhi: German luxury car maker Mercedes- Benz said it will hike prices of its entire range of models in India by up to 4.5 per cent from September 1 to partly offset the impact of the rupee depreciation and higher import duties.

The quantum of price revision will be in the range of 2.5 per cent to 4.5 per cent across the models sold in India.

"The rising input costs along with higher import duties have been creating significant pressure on our bottomlines for quite some time now. The constant weakening of the currency and the increase in other relevant taxes further impacted the business, adversely," Mercedes-Benz India Managing Director and CEO Eberhard Kern said.

The rupee has fallen more than 20 per cent in the last three months and hit an all-time low of 65.85 against the dollar.

With the latest price revision, the company's new A-Class 180 CDI luxury compact car will now be priced at Rs.22.05 lakh, an increase of 4 per cent, Mercedes- Benz India said in a statement.

The B-Class 180 CDI model will now be costlier by 4 per cent at Rs.23.50 lakh while the C-Class 200 CGI sedan will now cost Rs.32.25 lakh, an increase of 2.5 per cent, it added.

The newly launched E-Class 200 CGI saloon, will now be available at Rs.42.16 lakh, up by 3.5 per cent while the sports utility vehicle ML-Class 250 CDI would be cost 4 per cent more at Rs.50.98 lakh (all prices are ex-showroom Mumbai).

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Source: PTI
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