German luxury carmaker Mercedes-Benz on Wednesday said it will hike prices of select models in India by up to 2% from Jan. 1 next year to partially offset rising input, commodity and logistics costs.
The price hike will range from Rs 60,000 for the C-Class to Rs 2.6 lakh for a GLS SUV and up to Rs 3.4 lakh for the top-end imported Mercedes-Maybach S 680.
"High-cost pressures driven primarily by rising input costs, commodity pricing, and increased logistics costs, combined with inflationary pressures have been exerting cost pressure on our overall operations."
"As we rein in higher efficiencies to offset these rising costs, a slight price adjustment for select models is necessitated to sustain our profitable business operations and retain the price positioning," Mercedes-Benz India Managing Director and CEO Santosh Iyer said in a statement.
He further said, "While we continue to absorb the majority of this increase, a small portion must be passed on to the market to offset these cost increases. Our tailored financing solutions from MBFS (Mercedes-Benz Financial Services) will, however, ensure an optimum cost of ownership for customers, having a minimal impact".
Mercedes-Benz India sells a range of luxury vehicles starting from the A-Class sedan to SUV G63 AMG priced between Rs 46 lakh to Rs 3.4 crore.
Most of the passenger vehicle makers Maruti Suzuki, Hyundai Motor India, Tata Motors, Mahindra & Mahindra, Honda, Volkswagen, Å koda 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.
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