Mercedes-Benz announced on Wednesday that it will raise the prices of select models in India from January 2024.
The price will be increased by up to 2 per cent for the models to partially offset high input costs as well as rising commodity prices and logistics expenditure, according to the German luxury auto manufacturer.
"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,” Mercedes-Benz India Managing Director and CEO Santosh Iyer stated.
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"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," he added.
"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,” the German car maker's India chief explained.
How much will Mercedes-Benz cars cost in 2024?
The car maker revealed that the C-Class will cost Rs 60,000 more from January 1. For the GLS SUV, the price hike will be around Rs 2.6 lakh while customers have to shell out Rs 3.4 lakh more for the top-end imported Maybach S 680.
THE WEEK earlier reported that Maruti Suzuki, Tata Motors, Mahindra & Mahindra, Hyundai Motor India, Honda and other car makers will raise price of their vehicles in 2024 due to similar reasons. Read more about 2024 price hike HERE.
