Kolkata: Mercedes-Benz has announced a price hike of up to 3% on models ranging from the C 200 to the Maybach S 680, citing the steep hike in forex ra
Kolkata: Mercedes-Benz has announced a price hike of up to 3% on models ranging from the C 200 to the Maybach S 680, citing the steep hike in forex rates since Jan that impacted the cost structure of imported cars and components.The price hike will be effective in two phases, first from June 1 and again from Sept 1.The company hopes the staggered hike will allow customers the flexibility to plan their purchases to match their financial outlay.Mercedes-Benz India managing director & CEO Santosh Iyer pointed out that forex rates increased by around 10% over the last four months, hiking the prices of components and CBU products. “MBI has continued to absorb this steep cost increase so far, it is now compelled to pass on minimal cost onto the market to offset the impact on operational expenses and maintain business sustainability. The company is passing only a marginal portion of the steep price increase to customers, as it continues to deepen localisation initiatives,” Iyer said.In the first phase, the price corrections will range from Rs 90,000 for a C-Class to Rs 12.2 lakh for the Mercedes-Maybach S 680. In the second phase, the price correction will be around 1.5%.The official further pointed out that services from Mercedes-Benz Financial Services, like reduced EMI and partial ownership via Star Agility, will ensure that the monthly EMI outflow for customers will remain largely unchanged despite the minimal price revision, thereby minimising the impact on their expenses. For models like the GLA and GLC, the EMI difference will be less than Rs 2,000.Kolkata: Mercedes-Benz has announced a price hike of up to 3% on models ranging from the C 200 to the Maybach S 680, citing the steep hike in forex rates since Jan that impacted the cost structure of imported cars and components.The price hike will be effective in two phases, first from June 1 and again from Sept 1. The company hopes the staggered hike will allow customers the flexibility to plan their purchases to match their financial outlay.Mercedes-Benz India managing director & CEO Santosh Iyer pointed out that forex rates increased by around 10% over the last four months, hiking the prices of components and CBU products. “MBI has continued to absorb this steep cost increase so far, it is now compelled to pass on minimal cost onto the market to offset the impact on operational expenses and maintain business sustainability. The company is passing only a marginal portion of the steep price increase to customers, as it continues to deepen localisation initiatives,” Iyer said.In the first phase, the price corrections will range from Rs 90,000 for a C-Class to Rs 12.2 lakh for the Mercedes-Maybach S 680. In the second phase, the price correction will be around 1.5%.The official further pointed out that services from Mercedes-Benz Financial Services, like reduced EMI and partial ownership via Star Agility, will ensure that the monthly EMI outflow for customers will remain largely unchanged despite the minimal price revision, thereby minimising the impact on their expenses. For models like the GLA and GLC, the EMI difference will be less than Rs 2,000.
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