India’s largest luxury carmaker Mercedes-Benz India today announced an upward revision of the price of its select model range effective first week of October 2020. The price correction would be up to the range of a moderate 2%, varying across select model range. The weakening of the Indian currency compared to the euro since the past six to seven months, combined with an increase in input costs have been exerting significant pressure on the overall operations. Mercedes-Benz also has been introducing new technologies and features like ‘Mercedes Me connect’ across its product portfolio making them enhanced and updated. 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 car maker in India, it remains our endeavor to offer the latest products, best of technologies, service offering and ownership experience to our customers. However, the weakening of the currency since the beginning of the year, combined with a sharp increase in the input costs have been a matter of concern, creating significant pressure on our bottom line. To offset these costs and drive a sustainable business, we have few options but to make some nominal yet necessary price adjustments. We as a customer centric brand will be absorbing most of the impact, however passing on a portion of it up to 2%, seems inevitable.”
He further added,
“Despite the nominal price revision, our specially designed financial programmes like Wish Box 2.0 and a host of service packages will enable the discerning customers to drive home their favourite Mercedes-Benz and enjoy the vehicle ownership associated with Mercedes.”
‘Unlock with Mercedes-Benz’:
The latest campaign from Mercedes-Benz aims at reviving the consumer interest by unlocking new journeys with the three Pointed Star and bring back the experience and leisure of luxury motoring for aspiring customers. The campaign inspires customers to new beginnings, unlock their aspirations, and also realize their desire to own their cherished Mercedes-Benz.
‘Unlock with Mercedes-Benz’ offers some of the most customized financial solutions for owning a Mercedes-Benz under the ‘agility offer, with easy EMI and comprehensive cost of ownership options:
- C-Class: EMI starting 39,999 | ROI @ 7.99% | New Star in 3 years | Complimentary first year insurance
- E-Class: EMI starting 49,999 | ROI @ 7.99% | New Star in 3 years | Complimentary first year insurance
- GLC: EMI starting 44,444 | ROI @ 7.99% | New Star in 3 years | Complimentary first year insurance
Financial solutions: The company’s STAR Finance schemes give tailor made financial solutions. STAR Agility+ is a unique and innovative product from Mercedes-Benz Financial Services, which offers up to 40% lower EMI than regular finance products and buy back guarantee on car, thus enhancing the flexibility and affordability of owning a Mercedes-Benz. ‘STAR Supersonic’ scheme also provides pre-approvals in merely 30 minutes. Different aspects of the vehicle ownership ranging from finance, 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%.
Service packages: Mercedes-Benz India also offers highly affordable service packages and Extended Warranty Programmes, which are an industry benchmark. Under the STAR CARE programme, warrantable repairs up to 3 years are free of cost without any mileage limitations. This is a standard offering 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 carmaker to offer the On Road Assistance (ORA) Package as a standard offering for 3 years.
This can be purchased for a 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 is hassle free and guarantees complete peace of mind.
- Ex-showroom price of Mercedes-Benz’s select model range will increase by up to 2% w.e.f. first week of October, 2020
- Factors like weakening of the currency since the last 6-7 months, combined with increased rise in input costs have been exerting significant pressure on the operations
- Smart financial solutions from Mercedes-Benz Financial Services will enable an optimum cost of ownership experience for the customers
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