Mercedes-Benz, the luxury car manufacturer, has announced to increase prices of all its car models. The new price tag for all the models available in India will be effective from February.
The increase in car prices is basically planned to combat the increasing cost of production and adverse exchange rates. The prices of plastic, steel, and other car components are soaring high, exerting pressure on car manufacturers to increase their car prices. Weakening of Indian Rupees value has further added a reason for car manufacturers to go for car price hike.
On this account, Managing Director and CEO of Mercedes-Benz India, Dr. Wilfried Aulbur said, “We have absorbed significant levels of cost escalation, but cannot continue to sustain such levels beyond a point. We are going to increase prices of all Mercedes-Benz cars from mid-February.”
However, the quantum of price hike and the exact date is still to be finalized by the company.