NEW DELHI — Mercedes-Benz India said Friday it will increase prices across its vehicle lineup by around 2% beginning April 1, citing continued foreign exchange volatility and rising input costs.
The luxury carmaker said the decision was largely driven by the sustained depreciation of the Indian rupee against the euro, which has increased operational expenses.
Brendon Sissing, vice president for sales and marketing at Mercedes-Benz India, said the company typically tries to absorb cost increases but has decided a price adjustment is necessary to maintain long-term business sustainability.
“Starting April 1, we will be implementing a price correction of around 2 per cent across our portfolio. This decision is largely driven by continued forex volatility, particularly the sustained depreciation of the rupee against the euro, along with rising input costs,” Sissing said.
The price revision will apply to the company’s entire vehicle portfolio in the Indian market.
Sissing said the company plans to implement the increase carefully to minimize the impact on customers while continuing to focus on premium products and customer experience.
“While we always strive to absorb cost pressures, some price adjustment becomes necessary to maintain business sustainability. Our focus remains on ensuring minimal impact on customers while continuing to deliver best-in-class products and experiences,” he said.
Mercedes-Benz joins other luxury automakers raising prices in India. Earlier this week, Audi India also announced a price increase of up to 2% across its model range starting April 1.
Audi said the adjustment reflects rising input costs and currency fluctuations that have increased overall expenses for the company.
