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According to the reports, the company hinted at deciding on a price hike, blaming the fluctuation of the Euro against the Indian Rupee.
Mercedes-Benz GLE 450 4Matic. (Photo: Shahrukh Shah/ News18)
There is a trend of increasing the price range by top manufacturers when components and labour costs increase. The strategy to survive in the dominating market is followed by the top German player, Mercedes-Benz.
It has been reported that the company is likely to hike the price across the range in September this year. However, an official announcement for the same it yet to be made.
Reason Behind Price Hike
According to the reports, the company hinted at deciding on a price hike, blaming the fluctuation of the Euro against the Indian Rupee. The company has already revised its price brackets by 1.5 per cent, each in January and June this year.
Here’s What Report Says
As per the details shared by PTI, quoting the company’s Managing Director and CEO Santosh Iyer, who said, “If you see, yesterday night, one Euro is equal to Rs 99 and it is the first time that Euro has breached the Rs 98 mark. We had priced our cars (when One EURO) at Rs 89-90. Withthe Euro going up, even though we localise more than 30 per cent of our cars, 70 per cent of the cars still have European content and when the EURO goes up (against Rupee), the price (of the Mercedes-Benz range of cars) will go up.”
Statement From Top Official
He even noted that the brand has already effected a price increase of its cars twice in 2025, in January and June. Up to 1.5 per cent was the increase in hike. Now, he said, “And the third one (increase in price) equal to 1.5 per cent will come in September, because we cannot pass this in one go and we are doing it in a phase wise,” PTI reported.
Sales Figures
Talking about the sale figures, he revealed that the company had an excellent May (in terms of Sales) and June also seems to be strong and hopefully, during the festive period. “We will bring back even more cheer (in terms of sales for his company)” Iyer said.
Shahrukh Shah, Sub-Editor at News18, loves to write about everything that moves on wheels. With years of experience and the required skill sets, he is contributing to the auto section, where he let people know …Read More
Shahrukh Shah, Sub-Editor at News18, loves to write about everything that moves on wheels. With years of experience and the required skill sets, he is contributing to the auto section, where he let people know … Read More
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