Mercedes-Benz India to hike prices by up to 2% from January

Mercedes-Benz India on Thursday (3 December) announced it would hike prices of all its models in the country from January 2016.

The quantum of the price hike will be up to 2%, and the increase will be effective from 1 January. Rising input cost on many of its models has been cited as the reason for the price revision in the country.

Announcing the hike, Roland Folger, Managing Director & CEO, Mercedes-Benz India said: "Mercedes-Benz has been creating continuous value propositions for the Indian customers by offering the best products from our global portfolio in India. We have enhanced this value addition even further through our localisation efforts. However, with rising input costs, we are compelled to make some price adjustments to our product range to protect the investment of our customers in the brand, maintain our premium brand positioning in the market and sustain a profitable business. We want to further enrich the strong foundation which we have created for the brand in India."

Mercedes Benz has been giving financial solutions to its customers through STAR Finance and "STAR Supersonic" schemes to own a car. While the company's STAR Finance scheme promises tailor-made financial solutions, the "STAR Supersonic" scheme provides fast loan approval in merely 30 minutes.

Last week, car-maker BMW had also announced a 3% increase in prices of its entire range of cars sold in India.