Mercedes-Benz to hike prices early-2013
Manufacturer cites rising input costs and exchange rates as the reasons for an inevitable price rise in January
Costs are rising everywhere. The automotive sector hasn't been spared either, and now Mercedes-Benz is the latest company to opt for a hike in the prices of its products owing to dwindling profit margins.
Quoting unfavourable exchange rates and spiralling input costs as the main reasons for their decision to raise prices starting January 2013, Mr. Eberhard Kern, Managing Director & 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 January 2013."
Right time to speed up your Benz buy, dot commers?
Mahindra's successor to the Reva has enough new technology to rival its fossil-fueled counterparts. But how well does this tiny electric car fare under Indian conditions? We take it for a spin to find out...Watch full Video