October 19, 2020

mercedes benz worth hike: Mercedes-Benz mulls worth hike to offset the affect of forex volatility

New Delhi: German luxurious automotive maker Mercedes-Benz is contemplating rising costs of its automobiles in India to offset the affect of excessive forex volatility witnessed within the final six months, based on a high firm official. Compatriot Audi can be evaluating such a step though it has not set any timeline for a similar.

“In view of the excessive forex volatility witnessed because the final six months, we might have a look at a worth revision of our product vary quickly,” Mercedes-Benz India Managing Director and CEO Martin Schewnk stated.

He, nevertheless, didn’t elaborate on the precise time, quantum and vary of the deliberate worth hike.

With the common trade charge of rupee for euro going up from Rs 79 in February to Rs 87 in August, the corporate’s enter prices have gone up.

At present, Mercedes-Benz India sells a variety of luxurious automobiles ranging from the C-Class priced at Rs 41 lakh to AMG GT Coupe tagged at Rs 2.5 crore.

When reached out if the corporate can be contemplating the same transfer to extend automobile costs, an Audi India official stated, “We’re evaluating this however there isn’t any timeline in the meanwhile.”

Tata Motors-owned JLR, nevertheless, stated it has “no such plan or bulletins on the anvil”.