Mercedes-Benz mulls price hike to offset impact of currency volatility

<p style="text-align: center;"><img title="1597893558184993.png" alt="7.png" src="/ueditor/php/upload/image/20200820/1597893558184993.png"/></p><p>German luxury car maker Mercedes-Benz is considering increasing prices of its vehicles in India to offset the impact of high currency volatility witnessed in the last six months, according to a top company official. Compatriot&nbsp;Audi&nbsp;is also evaluating such a step although it has not set any timeline for the same.<br/><br/>&quot;In view of the high currency volatility witnessed since the last six months, we may look at a price revision of our product range soon,&quot; Mercedes-Benz India Managing Director and CEO&nbsp;Martin Schwenk&nbsp;said.<br/><br/>He, however, did not elaborate on the exact time, quantum and range of the planned&nbsp;price hike.</p><p><br/></p><p>With the average exchange rate of rupee for euro going up from Rs 79 in February to Rs 87 in August, the company&#39;s input costs have gone up.<br/><br/>Currently, Mercedes-Benz India sells a range of luxury vehicles starting from the C-Class priced at Rs 41 lakh to AMG GT Coupe tagged at Rs 2.5 crore.<br/><br/>When reached out if the company is also considering a similar move to increase vehicle prices, an Audi India official said, &quot;We are evaluating this but there is no timeline at the moment.&quot;<br/><br/>Tata Motors-owned JLR, however, said it has &quot;no such plan or announcements on the anvil&quot;.<br/></p>