India’s most desirable luxury carmaker Mercedes-Benz India today, announced an upward correction of the ex-showroom price of its select model range, effective 1st January 2024. The price correction would be up to 2% for select models in the portfolio.
A combination of rising input costs, commodity costs, and logistics costs driven by high inflationary pressures, have been exerting significant pressure on the company’s overall operational cost. A combination of these factors has prompted Mercedes-Benz India to upwardly revise the ex-showroom price of its select models, offsetting some of these costs to sustain a profitable business for the company and its Franchise Partners. While the company majorly absorbs these costs, a minute portion of this will be passed on to the market.
“High-cost pressures driven primarily by rising input costs, commodity pricing, increased logistics costs, combined with inflationary pressures have been exerting cost pressure on our overall operations. 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. While we continue to absorb majority of this increase, a small portion must be passed on to the market to offset these cost increase. Our tailored financing solutions from MBFS, will however ensure an optimum cost of ownership for customers, having a minimal impact.”
Santosh Iyer, Managing Director & CEO, Mercedes-Benz India
Highlights
• Ex-showroom price of Mercedes-Benz’s select models will increase by up to 2% w.e.f. 1st January, 2024 • Sharp increase in input costs, commodity costs, logistics costs; combined with inflationary pressures have been exerting pressure on Mercedes-Benz business operations
• Price correction for select models is necessitated to offset the operational cost rise and sustain a profitable business operation for the company and its Franchise Partners
• Mercedes-Benz is driving in higher cost efficiencies, absorbing majority of the cost pressures, passing on a small portion to the market
• Smart financial solutions from Mercedes-Benz Financial Services with products like Star Agility+ having tailored financing solutions, enables optimum ownership experience for the customers
• Price hike will be in the range of Rs. 2.6 lakhs for a GLS SUV to Rs. 3.4 lakhs for the top-end imported Mercedes-Maybach S 680
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