After Audi, Mercedes to hike prices by 2% from April
What's the story
Luxury car manufacturer Mercedes-Benz has announced a price hike of around 2% on its vehicles, effective from April. The decision comes as a response to foreign exchange (forex) volatility and rising input costs. Brendon Sissing, Vice President, Sales and Marketing at Mercedes-Benz India, said the move is largely driven by sustained depreciation of the rupee against the euro and increasing input costs.
Business strategy
Our focus remains on ensuring minimal impact on customers: Sissing
Sissing emphasized that while the company tries to absorb cost pressures, some price adjustment is necessary for business sustainability. Sissing said, "Our focus remains on ensuring minimal impact on customers while continuing to deliver best-in-class products and experiences." The decision comes after Audi also announced a price hike of up to 2% on its products in India from April 1.