Luxury automobile manufacturer Mercedes Benz India on Thursday announced that the company will hike the ex-showroom price by 5% across its model with effect from April 1, 2023, owing to an increase in input costs and weakening of the Indian currency. The price of Mercedes Benz cars has been revised by ₹2 lakhs for an A-Class limousine and GLA SUV. For a top-end S 350d limousine, the price has been revised by ₹7 lakhs whereas, for the top-end Mercedes Maybach S580, it has been hiked by ₹12 lakhs.
"Mercedes-Benz offers the latest model line-up featuring next-gen technology, connected services, luxury appointments and differentiating customer service. The continuous weakening of the currency combined with increasing input costs have resulted in increased operational cost, necessitating a price adjustment," said Santosh Iyer, Managing Director & CEO, Mercedes-Benz India.
With the price hike, the A 200 and A 200d in the luxury model segment will now cost ₹44 lakhs and ₹46 lakhs respectively. The Mercedes-Benz GLA 200 model will be priced at ₹48.50 lakhs whereas the GLA 220d model will be priced at ₹50 lakhs. In the core luxury segment, Mercedes-Benz C 200 model, C220d model, E200 model, E 220d model, GLE 300d 4M model, and GLE 400d 4M model will cost ₹60 lakhs, ₹61 lakhs, ₹76 lakhs, ₹77 lakhs, ₹90 lakhs and ₹1.08 crore, respectively. In the top-end luxury segment, Mercedes-Benz GLS 400d4M model, Mercedes Benz S 350d and S450 4M models will be priced at ₹1.29 crore, 1.71 crore, and ₹1.80 crore respectively.
The Mercedes-Maybach S580 and EQS 580 will be priced at ₹2.69 crore and ₹1.59 crore, respectively.
"The depreciation of the currency compared to the Euro, combined with increased input cost including logistics costs, have been exerting significant pressure on the company’s overall operational cost. A combination of these factors have prompted Mercedes-Benz India to upwardly revise the ex-showroom price of its model range to offset some of these costs," the company said.
"While the company absorbs significant costs, some portion of it will be passed on to the consumers in order to sustain a profitable business," it added.
This is the second time in three months that the company has announced an increase in car prices. In December last year, the company hiked the ex-showroom price across its entire model range by up to 5% with effect from January 1, 2023. In the past few months, the country’s automobile manufacturers have increased car prices owing to high increasing inflationary pressures and high input costs. Last month, India's largest carmaker Maruti Suzuki India Ltd increased the prices of its IGNIS hatchback with effect from February 24. In January, the company hiked prices across its model range by about 1.1%.