Mercedes-Benz India has announced an upward revision of the price of its select model range effective first week of August, 2019. The price correction would be up to the range of a moderate 3%, varying across the model range. The current increase in custom duty on automotive parts and additional cess and excise duty on fuel has been exerting significant pressure on overall operations. The combination of all these factors led Mercedes-Benz India to correct the prices of its select model range.
Mr. Martin Schwenk, Managing Director & CEO, Mercedes-Benz India said, “As the leading luxury automobile maker in India, we have been relentlessly working on offering the best of products and industry benchmark customer service and ownership experience. However, a hike in custom duty on automotive parts, compounded by an increase in excise duty and cess on fuel have had a significant impact on our bottom line. We were left with fewer options, but to make some necessary price adjustments to our product range at the moment to offset the impact of the rising input costs.”
He further added, “Despite this moderate price revision, the innovative and tailor-made financial offerings from Mercedes-Benz like the recently launched STAR Agility+, STAR Finance, STAR Lease, Corporate STAR Lease etc. are specially designed for our discerning customers to drive home their dream Mercedes. These unique solutions provide benchmark value proposition, enabling a hassle free purchase. Similarly, our service programmes like STAR Ease, STAR Care, STAR Care Plus and On Road Assistance programmes further elevate the customers’ overall ownership experience.”
