Thursday, March 3, 2016

Mercedes-Benz @MercedesBenzInd hikes its car prices by Rs.1-5 lakh

Mercedes-Benz India on Wednesday said it would hike prices of its vehicles by up to Rs 5 lakh on its entire model range effective from March 15 to offset the impact of infrastructure cess and luxury tax proposed in the Union Budget.
The price increase would be between 3% and 5% depending on the model, leading to a price hike between Rs 1 lakh and Rs 5 lakh.

“Needless to mention, we were expecting some rationalization of the duty structure in the Union Budget, which could have benefited both the luxury car industry and the end customer in multiple ways. On the contrary, we now have the challenge of addressing additional taxation," said Roland Folger, Managing Director & CEO, Mercedes-Benz India