Mercedes-Benz mulls price hike to offset impact of currency volatility

German luxury car maker Mercedes-Benz is considering increasing prices of its vehicles in India to offset the impact of high currency volatility witnessed in the last six months, according to a top company official.

Mercedes India MD Martin Schwenk (right) posing with the newly launched 2020 GLS SUV in India,
Mercedes India MD Martin Schwenk (right) posing with the newly launched 2020 GLS SUV in India,

Compatriot Audi is also evaluating such a step although it has not set any timeline for the same. "In view of the high currency volatility witnessed since the last six months, we may look at a price revision of our product range soon," Mercedes-Benz India Managing Director and CEO Martin Schewnk said.

He, however, did not elaborate on the exact time, quantum and range of the planned price hike. With the average exchange rate of rupee for euro going up from 79 in February to 87 in August, the company's input costs have gone up.

Also check these Vehicles

Find more Cars
Mercedes Benz Amg Eqs (HT Auto photo)
107.8 kWh | Electric | Automatic | 529 Km
₹ 2.45 Cr* **Ex-showroom price
Add to compare
Check latest offers
Mercedes Benz C-class 2022 (HT Auto photo)
1496 cc | Petrol | Automatic (TC)
₹ 55 - 61 Lakhs* *Ex-showroom price
Add to compare
Check latest offers
Mercedes-benz Eqe (HT Auto photo)
₹ 1.39 Cr* *Ex-showroom price
Add to compare
Mercedes-benz Eqc (HT Auto photo)
₹ 1.07 Cr* **Ex-showroom price
Add to compare
Check latest offers
Mercedes-benz Gle (HT Auto photo)
₹ 77.25 - 97.50 Lakhs* *Ex-showroom price
Add to compare
Check latest offers
Mercedes-benz Glb (HT Auto photo)
₹ 63.80 - 69.80 Lakhs* *Ex-showroom price
Add to compare
Check latest offers

Also Read : Mercedes, Audi India hope festive season to bring some cheer in sales

Currently, Mercedes-Benz India sells a range of luxury vehicles starting from the C-Class priced at 41 lakh to AMG GT Coupe tagged at 2.5 crore.

When reached out if the company is also considering a similar move to increase vehicle prices, an Audi India official said, "We are evaluating this but there is no timeline at the moment." Tata Motors-owned JLR, however, said it has "no such plan or announcements on the anvil".

First Published Date: 19 Aug 2020, 16:51 PM IST
NEXT ARTICLE BEGINS
Shopping Bag Shop Now
70% OFF
VENO Portable High Power 2 in 1 Car Vacuum Cleaner | USB Rechargeable Wireless Handheld Car Vacuum Cleaner Traveling, Camping Reusable and Sustainable (2 in 1 Vacuum Cleaner)
Rs. 899 Rs. 2,999
5% OFF
Godrej aer O – Hanging Car Air Freshener | Car Accessories | Cool Aqua (7.5g)
Rs. 94 Rs. 99
68% OFF
PUNZONE Car Body Scratch Remover - Scratch Repair Polishing Wax Kit Sponge Body Compound Cream Wax, Car Body Compound Scratch Remover
Rs. 289 Rs. 898
65% OFF
Ambrane 38W Fast Car Charger with Dual Output, Quick Charge 3.0 and Power Delivery, Type-C & USB Port, Wide Compatibility for Smart Phones (RAAP C38 A, Black)
Rs. 349 Rs. 999

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city
Choose city
By clicking "View Offers" you Agree to our Terms and Privacy Policy

Dear Name

Please verify your mobile number.

+91 | Choose city
Couldn't verify the OTP.
It's either expired or it's incorrect.