Luxury automobile manufacturer Mercedes-Benz India Tuesday announced an upward price revision which, it said, was due to the withdrawal of excise duty concession on Dec 31, 2014.
According to the company, the prices would be revised by up to four percent across the model range. The new prices would be effective from Jan 22, 2015.
The company said that the end of the excise duty concession on Dec 31, 2014 was instrumental in the price revision.
"The end of excise benefit left us with no option but to pass on the additional cost to our customers," said Eberhard Kern, managing director and chief executive, Mercedes-Benz India.
"Mercedes-Benz India is on a strong growth curve with a clear focus on maintaining a profitable and sustainable growth. We want to maintain our premium brand positioning in the market and sustain the strong foundation which we have created for the brand in India."
