Following suit of other auto majors, Luxury car maker Mercedes Benz has announced a price hike across all its models by up to 10 per cent in the country from January 2014.
The company, which is looking to expand its sports car market in India, did not specify the reason for its latest hike. However, the slowing economy is believed to be one of the key reasons.
Announcing the hike, Eberhard Kern, Managing Director & CEO, Mercedes-Benz India said, "Mercedes-Benz stands out for its iconic luxury offerings and continues to be admired for its complete luxury product experience. A fantastic year of offensive focus has helped us achieve tremendous success in India despite challenging market conditions and we will continue to build on our success by further enhancing our after-sales programmes, dealer network and customer support. As market dynamics continue to evolve we are committed to offer the best luxury experience and delight our valued customers," as quoted by RushLane.
Mercedes sells a wide range of cars in India, such as like A Class, B Class, sedans C Class, E Class, S Class and SLS AMG. For the buyers in the country, the company has also announced its financial services like 'Flexinomics', 'STAR Agility' and 'STAR Supersonic' loan approvals to make the purchasing business a hassle-free affair.
Auto companies like Audi and BMW India have also announced a price hike this month, owing to business pressure. German luxury car maker Audi has increased its car prices up to 5 percent. On the other hand, BMW hiked the prices of its BMW and Mini product range in the country from 7 to 10 percent.