New Delhi: Luxury car company Mercedes-Benz announced on Monday to increase the prices of some models by two percent in the Indian market from October. The company said in a statement that, in the last six to seven months, the cost has gone up and the euro has become expensive. The company has not yet clarified which models will increase the price. It is believed that the company can increase the price of C-Class, E-Class, and GLC by up to Rs 1.5 lakh. According to the statement, the increased prices will be applicable from the first week of October.
The price of vehicles has been increased by two percent based on models. In the company’s models, the C-Class starts at Rs 40 lakh and the S-Class goes up to Rs 1.4 crore. Martin Schwenk, managing director and chief executive officer of the company’s Indian business, said the currency continued to weaken since the beginning of the year.
With this, there has been a sharp increase in cost. This has increased the pressure on our profits. He said the company had few options to reduce the impact of these costs, but the company would have to adjust prices slightly but to keep the business viable.
