Mercedes Benz, the second largest luxury car maker in the Indian market, said on Tuesday that it will hike the price of all its portfolio cars in the Indian market with effect from 1st of May 2011. The company has blamed the rising input costs and adverse currency fluctuations for the hike.
In a statement given on Tuesday, Mercedes-Benz India Managing Director and CEO Peter Honegg said, "The prices of all Mercedes-Benz models will be revised upwards effective May 1, 2011 for the Indian market." He, however, hasn’t revealed the range of price hike that will be imposed on the Mercedes cars in the Indian market. It is understood that the prospective price hike could be in the range of 1.5 per cent to 2 per cent.
At present, Mercedes’ India portfolio includes a range of luxury cars that comprises of C Class, E Class, S Class and the super luxury sedan Maybach. The Mercedes cars are available in the country in the range of Rs 25.47 lakh to Rs 5.85 crore (ex-showroom Delhi).
Mr. Honegg added, "We have absorbed the pressures to a significant level but moving forward we will have to pass on some portion of this impact to the customer."
