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India’s largest luxury carmaker Mercedes-Benz India today announced an upward revision of the price of its entire model range effective from September 1, 2018. The price correction would be up to the range of a moderate 4% varying across the model range. The rising inflation due to geo-political dynamics, coupled with rising input costs and increasing forex rates has been exerting significant pressure on overall operations. While the INR has depreciated by more than 5% against the Euro in last 8 months, the Repo rate has gone up by 0.5% in last couple of months. The combination of all these factors led Mercedes-Benz India to upwardly revise the prices of its entire model range and also the retail finance rates. Roland Folger, Managing Director & CEO, Mercedes-Benz India commented, 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. This is the very philosophy that led us to maintain our steady price positioning over the last few months. However, a steady rise in input costs against the backdrop of an unfavorable forex rate and high inflationary cost together, have had a significant impact in the recent past. We have been watching this trend cautiously and avoided any price changes in the recent past. Considering the rapid depreciation of the rupee against the major currencies in last few days, we were left with fewer options, but to make some necessary price adjustments to our product range at the moment. 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...