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Mercedes-Benz India increases vehicle prices.

M2 EQUITYBITES-August 8, 2019--Mercedes-Benz India increases vehicle prices

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Auto Business News - 08 August 2019

Mercedes-Benz India, a subsidiary of Daimler AG (NYSE: DAI), has increased the price for a select model range in India effective August 2019.

The automaker is increasing the price of the vehicle by up to 3 percent across the model range.

Martin Schwenk, managing director & CEO, Mercedes-Benz India, said, 'As the leading luxury automobile maker in India, we have been relentlessly working on offering the best of products and industry benchmark customer service and ownership experience. However, a hike in customs duty on automotive parts, compounded by an increase in excise duty, and cess on fuel have had a significant impact on our bottom line. We were left with fewer options, but to make some necessary price adjustments to our product range at the moment to offset the impact of the rising input costs.'

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Publication:M2 EquityBites (EQB)
Geographic Code:9INDI
Date:Aug 8, 2019
Words:180
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