Auto

Mercedes-Benz India to increase price of its models by up to 3%

Updated : December 11, 2019 03:12 PM IST

The new prices will come into effect from the first week of January 2020.

The company said that the price hike is an attempt to offset the increased in input and commodity costs from next year.

Mercedes-Benz India on Wednesday announced an increase in ex-showroom prices of its vehicles by up to 3 percent. The new prices will come into effect from the first week of January 2020.

The new prices will vary across models and go up to 3 percent.

The company said that the price hike is an attempt to offset the increased in input and commodity costs from next year.

The automobile industry in the country has endured a difficult year with most major manufacturers reporting declining sales over the course 2019. After a brief festive season uptick in sales in October, sales slumped again in November.

Data from industry body, Society of Indian Automobile Manufacturers (SIAM) released on Tuesday showed a 12 percent decline in sales in November year-on-year. Maruti Suzuki, India’s largest carmaker, saw its sales fall by 2 percent last month.

The economic downturn—as evidenced by the second quarter gross domestic product (GDP) growth falling to 4.5 percent—which has led to a slowdown consumption, has been attributed to the auto industry’s troubles. Further, the BS-VI emission norms which come into effect from April next year could be another reason for the prospective buyers to hold off on their purchase for the time being.

Nevertheless, the automakers will hope for a positive end to the year with sales growth in December.

Mercedes-Benz India to increase price of its models by up to 3%

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