Mercedes-Benz India Plans July Price Hike on Currency Weakness

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AuthorAnanya Iyer|Published at:
Mercedes-Benz India Plans July Price Hike on Currency Weakness
Overview

Mercedes-Benz India is planning its third price hike for July, driven by worsening currency exchange rates. This change now presents a bigger challenge than supply chain issues. Demand for luxury cars remains strong despite inflation, though ongoing price increases are approached with caution.

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Forex Woes Force July Price Hike

Mercedes-Benz India is set to implement its third price increase this July. According to Santosh Iyer, Managing Director and Chief Executive Officer, the significant depreciation of the Indian Rupee has become a larger concern than supply chain disruptions. While logistics issues are manageable due to buffer stocks, the weakening currency is forcing a review of pricing strategies.

Strong Demand for Luxury Cars Continues

Despite the upcoming price hike, Mercedes-Benz India reports sustained strong momentum in the luxury car segment. Iyer noted that buying sentiment remains largely intact, having recovered from a brief dip in late March linked to market volatility. The company observes continued good demand for its premium vehicles.

New Electric CLA Arrives

Adding to its portfolio, the company has launched the highly anticipated CLA battery electric vehicle (BEV) range. Introductory prices start at ₹55 lakh for the CLA 200 'Standard Range' and go up to ₹64 lakh for the CLA BEV 'Launch Edition'. The electric CLA has already received over 400 bookings, with a significant number of buyers being young consumers and first-time luxury car owners. The CLA 250+ 'Long Range' variant offers an impressive 792 km range on a full charge.

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