Luxury Car Giants Adjust Prices Amid Forex Fluctuations
Mercedes-Benz India plans to increase prices of its models between Rs 90,000 and Rs 12.2 lakh in two stages in response to significant forex changes. The adjustments will be made in June and September to offset a 3% cost increase without severely impacting consumers.
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Mercedes-Benz India is set to revise the ex-showroom prices of its vehicles, citing severe forex fluctuations as a key reason. The luxury car manufacturer announced price increases ranging between Rs 90,000 and Rs 12.2 lakh across its model lineup.
The increments will be phased, with initial hikes of 1-2% starting June 1, followed by another 1.5% adjustment from September 1. This measured approach aims to cushion the financial impact on consumers while addressing the company's heightened cost pressures.
According to MD and CEO Santosh Iyer, the fluctuations in the Euro-INR exchange rate have significantly raised import costs, prompting this decision. Coupled with value-financing options, the staggered pricing strategy is designed to provide flexibility for customers and ensure sustained business growth.
(With inputs from agencies.)
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