By IANS,
New Delhi : German luxury automobile major Mercedes-Benz’s Indian subsidiary Tuesday said it would hike the prices of its car models from May 1 due to rising input costs and challenging exchange rates.
“The prices of all Mercedes-Benz models will be revised upwards effective 1st May 2011 for the Indian market,” said Peter Honegg, managing director and chief executive, Mercedes-Benz India.
According to Honegg, the company has to pass on a portion of the rising input prices as it was unable to absorb further inflationary pressures.
“The rising input costs and challenging exchange rates as well as inflationary impacts are areas that have a bearing on the cost of the final product,” Honegg said.
SUPPORT TWOCIRCLES
HELP SUPPORT INDEPENDENT AND NON-PROFIT MEDIA. DONATE HERE