IndiaCatalog.com
India News
Search Web Directory
News Home
Mercedes-Benz to hike prices by up to 4% in September
Posted on 16th August 2018
German luxury carmaker Mercedes-Benz today said it will hike prices of its vehicles across models by up to 4 per cent from September to offset adverse impacts of rising input costs and upward forex movement.

The rising inflation due to geo-political dynamics, coupled with rising input costs and increasing forex rates has been exerting significant pressure on overall operations, Mercedes-Benz India said in a statement.

While the rupee has depreciated by more than 5 per cent against the Euro in last eight months, the repo rate has gone up by 0.5 per cent in last couple of months, it added.

"The combination of all these factors led Mercedes-Benz India to upwardly revise the prices of its entire model range and also the retail finance rates," it said.

The upward revision of the price across the entire model range will be effective from September 1, 2018, and would be up to 4 per cent depending on the model, the company said.

Commenting on the step, Mercedes-Benz India Managing Director and CEO Roland Folger said, "Considering the rapid depreciation of the rupee against the major currencies in last few days, we were left with fewer options, but to make some necessary price adjustments to our product range at the moment." A steady rise in input costs against the backdrop of an unfavourable forex rate and high inflationary cost together, have had a significant impact in the recent past, he added.

Mercedes-Benz currently sells a range of sedans and SUVs starting from the A-Class to GLS luxury SUV and Maybach S560, priced between Rs 27.86 lakh and Rs 1.94 crore.

Other companies such as Mahindra & Mahindra, Tata Motors and Honda Cars India have also announced price hikes from this month citing rising input cost.

Maruti Suzuki India has also stated that it would increase prices of its vehicles this month.

In April, luxury carmakers such as Audi, JLR and Mercedes-Benz hiked prices in the range of Rs 1-10 lakh to pass on increase in custom duties.

Related Companies: Mercedes Benz India Limited   

Other Latest News
Sensex, Nifty end higher for 2nd session on strong fund inflow, firm rupee
Posted on 17th November 2018
The BSE Sensex on Friday continued its rising streak for the second day to end at near a four-week high of 35,436.33, fuelled by gains in Reliance Industries, Bharti Airtel and other bluechips amid continued foreign fund inflows and strengthening rupee.

A higher opening in European shares too influenced sentiments here.


India set to buy Seahawk helicopters from US for $2 billion
Posted on 17th November 2018
Washington: India has sought from the US 24 multi-role MH-60 ‘Romeo’ anti-submarine helicopters for its Navy at an estimated cost of $2 billion, according to defence industry sources.

The deal is likely to be finalised in a few months.


Relief for Hyundai: Supreme Court stays Rs 420-crore fine
Posted on 17th November 2018
The Supreme Court on Friday stayed the Competition Commission of India’s order that imposed over Rs 420-crore penalty on the country’s second-largest car maker Hyundai Motors India for anti-trade practices including lack of standardisation of spare parts and allowing original equipment suppliers (OESs) to sell spare parts in the open market without any restrictions.

Analyst Corner: Retain ‘buy’ on Ashok Leyland, target price Rs 135
Posted on 17th November 2018
The EBITDA margin at 10.6% for Q2FY19 missed our/consensus estimates by 60 bps on lower realizations and higher commodity costs. The bigger surprise was resignation of Vinod Dasari with effect from March 31, 2019. Dheeraj Hinduja will take over as the executive Chairman till the Board finds a suitable replacement.We expect FY20 earnings to benefit from a confluence of factors (higher volumes, lower discounts, higher operating leverage) on BS6 pre-buy.

GVK Power gets approval to raise Rs 8,000 crore for debt repayment
Posted on 17th November 2018
GVK Power and Infrastructure (GVKPIL) has received the shareholders’ approval to raise up to Rs 8,000 crore.

The resolution to raise the funds, by a combination of various options listed on the agenda of the annual general meeting (AGM) held recently, has been passed by the requisite majority, the company said in a BSE filing on Friday.


» Post a FREE Classified Advertisement
Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.
Jobs in India India Real Estate Automobiles Matrimonials Beauty & Fitness

Add a comment for Mercedes-Benz to hike prices by up to 4% in September
Please only use this form to enter comments on the above company. All comments are reviewed before they are displayed on the web site. Not all comments may be displayed. Check back with us to see if your comments have been displayed.
If you want us to email the comments posted by users, please Subscribe by email
Name*
Comments*
Security Code*
 

Be the first person to write a business review for Mercedes-Benz to hike prices by up to 4% in September

Most Read News

Share market wrap: Sensex, Nifty log minimal weekly gains amid festivity; macro-data, elections to steer ahead

NASA to send tissue chips to space to test human health, genetic changes

H-1B: Trump’s latest visa proposal and its impact on India

Vodafone Idea to report a sizeable loss in September quarter, say analysts

Sensex, Nifty end higher for 2nd session on strong fund inflow, firm rupee

More India News

Photo Gallery

Pragya Jaiswal(11 Images) Pragya Jaiswal
Jeeva(10 Images)Jeeva
Nela Ticket(11 Images) Nela Ticket
  India Web Directory
Business Profiles
Automotive Directory
IT/ITES/BPO Directory
Hotel Directory
Health Directory
Business Directory
Gems & Jewellery
Education Directory
Real Estate Directory
Agriculture Directory
Logistics Directory
Yellow Pages
NRI Guide
Photo Galleries
Global Web Directory
*** FREE India Classifieds
Order Premium Listings
Submit a Site
Business Reviews
Home
About us
Link to us
Advertise
Contact us
Google Search Keywords: India Catalog, IndiaCatalog, India Web Directory
    © 1999 - 2018 IndiaCatalog.com
    All Rights Reserved
Privacy Statement