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Mercedes-Benz India, the country’s largest luxury carmaker, has announced an upward revision in price of its entire model range effective April 1, 2022. The price correction would be in the range of 3 percent.
The constant increase in input costs in addition to an increase in logistics costs have been exerting significant pressure on the overall costs of the company, the German luxury brand stated.
The planned increase in prices by Mercedes-Benz comes two weeks after another German luxury carmaker Audi announced a 3 percent hike in prices from April 1. Audi also blamed rising costs for the increase.
Martin Schwenk, Managing Director and CEO, Mercedes-Benz India said, “To run a sustainable business a price correction is necessary to offset the continuous rise in input and operational costs.”
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