Mercedes Hikes Car Prices By 4%

Mercedes Hikes Car Prices By 4%
Highlights

Mercedes-Benz India On Tuesday announced price hike of up to 4 per cent across its model range, citing central government\'s withdrawal of excise duty concessions on vehicles on December 31, 2014. The price increase will come into effect from January 22.

Mercedes-Benz India On Tuesday announced price hike of up to 4 per cent across its model range, citing central government's withdrawal of excise duty concessions on vehicles on December 31, 2014. The price increase will come into effect from January 22.

"The excise duty cut was of much relief to the automotive sector in general and luxury cars in particular.
However, the end of excise benefit left us with no option but to pass on the additional cost to our customers,” said Eberhard Kern, Managing Director and Chief Executive, Mercedes-Benz India.
Kern further said:"Despite the price hike, the smart financial solutions from Mercedes-Benz Financial Services like STAR Agility and STAR Lease are specially curated for our customers".
He however maintained that Mercedes India was on a strong growth curve with a clear focus on maintaining a profitable and sustainable growth."We want to maintain our premium brand positioning in the market and sustain the strong foundation which we have created for the brand in India,"Kern Explained
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