Mercedes-Benz India Braces for September Price Hike Amid Currency Woes

Mercedes-Benz India announces a 1-1.5% price hike for September due to a weak rupee against the euro. Despite previous hikes, MD and CEO Santosh Iyer says demand persists. The company maintains steady EMIs to counteract the impact. No production issues are reported, but growth remains modest.

Mercedes-Benz India is set to increase its car prices by 1-1.5% starting September, aiming to mitigate the weak rupee's impact against the euro, as confirmed by MD and CEO Santosh Iyer.

The luxury car leader previously raised prices in January and July. Iyer explained the necessity for another hike due to persistent currency fluctuation, assuring that financing strategies will help manage the effect on consumers.

Despite geopolitical and currency challenges, Mercedes-Benz India expects stable demand and growth in the luxury segment to outpace the general passenger vehicle market's performance.

(With inputs from agencies.)