India’s largest luxury carmaker Mercedes-Benz India today announced an upward revision of the price of its entire model range effective from January 1, 2017. The price correction would be up to the range of a moderate 2% varying across the model range. The rising inflation, coupled with rising input costs and increasing forex rates has been exerting significant pressure on the bottom-line. The combination of all these factors led Mercedes-Benz India to upwardly revise the prices of the entire model range.
Roland Folger, Managing Director & CEO, Mercedes-Benz India commented,
As pioneers of luxury automobile in India, we have provided our customers with the latest global products and technology, world-class retail infrastructure, and benchmark service solutions and ownership experience. However, a steady rise in input costs against the backdrop of an increasing forex rates and high inflationary cost together have eroded our bottom-line. We were left with fewer options but to make some necessary price adjustments to our product range in order to protect the investment of our customers. We hence, decided to absorb a higher impact of these adversary factors on our prices and pass a lesser part of it to the customers, considering the current negative customer sentiment. We want to maintain a sustainable business in this dynamic market and want to retain our premium brand positioning in the market. We also want to sustain the strong foundation which we have created with the trust of the Indian customer for the brand, over two decades now.
However, despite this moderate price revision, the innovative and tailor-made financial offerings from Mercedes-Benz like 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 customer’s overall ownership experience.
Mr. Folger added.
Financial solutions: The company’s STAR Finance schemes give tailor made financial solutions, while ‘STAR Supersonic’ scheme also provides extremely fast loan approval in merely 30 minutes. STAR Agility is another unique and innovative product from Mercedes-Benz Financial Services which offers 35 to 40% lower EMI than regular finance products, thus enhancing the flexibility and affordability of owning a Mercedes- Benz. Different aspects of the vehicle ownership ranging from finance, leasing and insurance to roadside assistance, cost of service, repairs and even residual value have been optimized under our financial solutions. One of the highlight offerings is the unmatched interest rate starting from 7.99% for the New Generation Cars.
Service packages: Mercedes-Benz India also offers highly affordable service packages and Extended Warranty Programmes which are industry benchmark. Under the STAR CARE programme, warrantable repairs up to 3 years are free of cost without any mileage limitations. This is offered standard with ever purchase. Star Care Plus offers 4th year extended warranty which further enhances the resale value. STAR EASE covers essential jobs related to periodic service along with coverage for brake pads, brake discs, wiper blades, wheel alignment and balancing for the contracted period. Mercedes-Benz India is the only luxury car maker to offer the On Road Assistance (ORA) Package as a standard offering for 3 years. This can be purchased for 4th and 5th year individually. Customers will also be delighted with the introduction of a host of new service programmes. The objective behind the new customized packages for different models of cars will ensure that the ownership experience guarantees complete peace of mind. An exclusive service package for the New Generation Cars will ensure a cost of ownership starting as low as Rs. 1.99/kilometer for the discerning customers.
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