Mercedes-Benz India signals price hike
Automobile major Mercedes-Benz India on tUESday indicated that prices of all its models will be revised upwards effective January 2013.
A constant increase in input costs and unfavorable exchange rates coupled with inflation has posed severe strain on margins, said the company.
Eberhard Kern, Managing Director and CEO, Mercedes-Benz India, said, "Significant level of cost escalations have been absorbed by us till now, but beyond a point we cannot continue to sustain such levels."
"We have made substantial investment in our India operations and are responsible for the growth of our employees and dealer partners."
"We aim for a sustainable profitable growth maintaining our premium appeal and hence, we are going to substantially increase the prices of all Mercedes-Benz cars from Januray 2013," said Kern.