German Luxury automaker Mercedes-Benz has announced that it will hike the prices of select models in India by up to 2 per cent from January 1, 2024. The brand justifies the price hike owing to offset rising input, commodity, and logistics costs.
Also Read: BMW India To Hike Prices From January 2024
The price hike will range from Rs 60,000 for the C-Class, which is priced between Rs 57 and Rs 62 lakh. The GLS SUV, which is priced at Rs 1.31 crore, will see a hike of up to Rs 2.6 lakh, and the flagship Mercedes-Maybach S 680, which is priced at Rs 3.40 crore, will incur a price hike of Rs 3.4 lakh. All prices mentioned above are ex-showroom, India.
Mercedes-Benz India Managing Director and CEO Santosh Iyer said, “High-cost pressures driven primarily by rising input costs, commodity pricing, increased logistics costs, combined with inflationary pressures have been exerting cost pressure on our overall operations. Our tailored financing solutions from MBFS, will however ensure an optimum cost of ownership for customers, having a minimal impact.”
Mercedes-Benz India states that the price revision is expected to offset some of the costs to sustain a profitable business for the company and its franchise partners. Moreover, the brand also explains that while the company majorly absorbs these additional costs, some of these increased costs will be passed on to the market.
Also Read: Skoda India To Hike Prices From January 2024
Most of the passenger vehicle makers, Maruti Suzuki, Hyundai Motor India, Tata Motors, Mahindra & Mahindra, Honda, Volkswagen, Škoda Auto, Audi and BMW, have announced plans to increase the prices of their vehicles in January to offset the adverse impact of rising input and material costs.
