Luxury carmaker Mercedes–Benz on Wednesday announced that it will be implementing price hikes on its entire model up to 5 per cent. The upward price revision will come into effect from January 1, 2023.
The company stated that a constant increase in input costs and increased logistics costs have been exerting significant pressure on the overall operational costs of the company. The price hike range will be ₹1,50,000 for GLA, ₹4.5 lakhs for an S350d, and upto ₹7 lakhs for a top-end Mercedes–Maybach S580.
businessline in October reported that luxury companies are planning to increase vehicle prices across models in the quarter.
“Mercedes-Benz has been creating benchmarks in the luxury automotive industry in India, introducing world-class products and technologies for discerning customers. However, to run a sustainable and profitable business for us and our Franchise Partners, a price correction is necessitated to offset the rising inflationary cost pressures. Though we are absorbing most of the increase,” said Martin Schwenk, Managing Director & CEO, of Mercedes-Benz India.