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Hindustan Times
a day ago
- Automotive
- Hindustan Times
Mercedes-Benz India to hike car prices again by 1.5% in September 2025
Mercedes-Benz India is considering a further price increase, which will be implemented in September 2025. The German luxury vehicle maker that recently introduced two sports cars in India, viz. the AMG GT 63 4MATIC and GT 63 PRO 4MATIC Coupe, ₹ 3 crore (ex-showroom) and ₹ 3.65 crore (ex-showroom), respectively, have announced that the OEM is set to implement another price increase for its India passenger vehicle range. This will be the third price increase for Mercedes Benz India in 2025. Talking to PTI, Mercedes-Benz India Managing Director and CEO Santosh Iyer stated that negative movements of the Euro versus the Rupee are influencing the OEM's price increase strategy. This will be the third price increase in 2025. In January and June this year, Mercedes-Benz had hiked prices of its vehicles by 1.5 per cent each. The company has asserted that it had experienced a 13 per cent rise in cost over the last twelve months as the Rupee kept depreciating against the Euro, hiking the price of imported components. The Indian subsidiary of the German luxury carmaker imports approximately 70 per cent of its components. (Also read: Mercedes-AMG GT 63 and GT 63 PRO launched at ₹ 3 crore. Bookings open) "If you see, one Euro was equivalent to ₹ 99 and it is the first time that the Euro has crossed the ₹ 98 mark. We had quoted our cars when one Euro was ₹ 89-90. Since Euro is increasing, even though we localise over 30 per cent of our cars, 70 per cent of the cars have European content and when the EURO increases against Rupee, the price of the Mercedes-Benz range of cars will increase," Iyer said, adding, "The third one (increase in price) to the tune of 1.5 per cent will be effective from September, because we can't give this in one stroke and we are doing it phase wise," he said. Mercedes-Benz is hopeful of upbeat retail sales Even with the planned increase in price of its vehicles, the luxury vehicle maker sounded positive on sales at the retail level with the Reserve Bank of India (RBI) cutting interest rates twice in the same year. "We have a non-banking finance company called Mercedes-Benz Finance and this subsidiary too has cut down the interest rates. (Also read: Mercedes-AMG G 63 'Collector's Edition' launched at ₹ 4.3 crore. Check what's different) Approximately 80 per cent of our vehicles are financed, and if you observe June today, the cost of Mercedes-Benz vehicles has increased. But the EMIs haven't changed," he said. Iyer supplemented that the rate cuts in interest announced by the Reserve Bank are aiding the sales of the Mercedes-Benz line of vehicles. He also mentioned that 2025 is not a straightforward year from a geo-political macro economy climate, and hence the company would rather be a large conservative when it comes to demand and projections. "Currently, we had a great May in sales terms, and June also appears to be robust and hopefully, during the festive season, we will bring cheer back even more in sales terms for his company," said Iyer
Hindustan Times
a day ago
- Automotive
- Hindustan Times
SPMEPCI scheme to attract foreign players to invest, bring EV portfolio to India: Mercedes-Benz India CEO
Mercedes-Benz sees a boost to the Indian electric vehicle industry with the SPMEPCI. (AP) Notify me The Scheme to Promote Manufacturing of Electric Passenger Cars in India (SPMEPCI) will attract new foreign auto manufacturers to invest and bring their electric vehicle portfolio to the country, believes Mercedes-Benz India CEO and Managing Director Santosh Iyer. The German automaker that has been leading the electric vehicle segment in the Indian luxury car market with a wide range of products has introduced two new sports cars in the country, the AMG GT 63 4MATIC and GT 63 PRO 4MATIC Coupe, priced at ₹ 3 crore (ex-showroom) and ₹ 3.65 crore (ex-showroom), respectively. Speaking to PTI about the SPMEPCI, Iyer said that it is a great scheme and a great initiative by the Ministry of Heavy Industries (MHI). "I think it's a great scheme and a great initiative by the Ministry for Heavy Industries (MHI) to really come up with such a forward-looking scheme. But this scheme is primarily for new entrants who have not come into India," Iyer reportedly said. Also Read : Upcoming cars in India Under the SPMEPCI, automakers will be permitted to import up to 8,000 electric vehicles in India at a reduced duty rate of 15 per cent compared to the current 70-100 per cent, provided they commit to investing ₹ 4,150 crore in the local EV manufacturing industry. Speaking about Mercedes-Benz's investments in India, Iyer said that the company has invested ₹ 3,000 crore in the OEM's Chakan plant near Pune. 'Today, we are already producing two car models locally at this plant, much before the announcement of the scheme," he further said, while also adding, 'But I think this scheme will surely attract newer players, who are not yet in India, to invest and come with their electric cars." Meanwhile, speaking about the ongoing rare earth magnet crisis, which has hit the panic button in the Indian industry and is fuelling concerns about a possible shutdown in the coming months due to the unavailability of the critical component, Iyer said that in today's time, disruptions happen due to geopolitical issues or supply chain issues, but the company's colleagues involved in the backend are able to manage it quite well. "As of now, we have no disruption in India because of any of these issues," Iyer asserted. Get insights into Upcoming Cars In India, Electric Vehicles, Upcoming Bikes in India and cutting-edge technology transforming the automotive landscape. First Published Date: 29 Jun 2025, 08:46 AM IST
Hindustan Times
a day ago
- Automotive
- Hindustan Times
Mercedes-Benz cars in India to be dearer by 1.5% in September, third price hike in 2025
Mercedes-Benz cars to go dearer again in September 2025, for the third time in this calendar year. Check Offers Mercedes-Benz India is looking at another price hike, which will be enforced in September 2025. The German luxury car manufacturer that just launched two sports cars in India, namely the AMG GT 63 4MATIC and GT 63 PRO 4MATIC Coupe, priced at ₹ 3 crore (ex-showroom) and ₹ 3.65 crore (ex-showroom), respectively; has revealed that the OEM is about to enforce another price hike for its India passenger vehicle portfolio. Speaking to PTI, Santosh Iyer, Managing Director and CEO at Mercedes-Benz India, said that adverse fluctuations of the Euro against the Rupee are impacting the OEM's price hike decisions. This is going to be the third price hike in 2025. Earlier this year, in January and June, Mercedes-Benz increased the price of its cars, each time by 1.5 per cent. Also Read : Upcoming cars in India The automaker has claimed that it had faced a 13 per cent increase in cost over the past year as the Rupee continued to weaken against the Euro, inflating the cost of imported components. The Indian arm of the German luxury carmaker imports about 70 per cent of its components. "If you see, yesterday night, one Euro was equal to ₹ 9,9 and it is the first time that the Euro has breached the ₹ 98 mark. We had priced our cars when one Euro was at ₹ 89-90. With Euro going up, even though we localise more than 30 per cent of our cars, 70 per cent of the cars still have European content and when the EURO goes up against Rupee, the price of the Mercedes-Benz range of cars will go up," Iyer said, while also adding, "The third one (increase in price) equal to 1.5 per cent will come in September, because we cannot pass this in one go and we are doing it in phase wise," he said. Mercedes-Benz is hopeful of upbat retail sales Despite the proposed price hike for its cars, the luxury car manufacturer sounded optimistic on retail sales with the Reserve Bank of India (RBI) announcing interest rate cuts twice this year. "We have a non-banking finance company, Mercedes-Benz Finance, and this arm has also reduced the interest rates. About 80 per cent of our cars are financed, and today, if you look at June, the price of Mercedes-Benz cars has gone up. But the EMIs remain the same," he said. Iyer added that the interest rate cuts announced by the Reserve Bank are helping the sales of the Mercedes-Benz range of cars. He also said that 2025 is not an easy year from a geo-political macro economy environment, and therefore, the company wants to be a big conservative when it comes to demand and forecasts. "Right now, we had an excellent May in terms of sales, and June also seems to be strong and hopefully, during the festive period, we will bring back even more cheer in terms of sales for his company," Iyer said. Check out Upcoming Cars in India 2024, Best SUVs in India. First Published Date: 29 Jun 2025, 09:09 AM IST
