|Chennai||Rs. 25020.00 (0.81%)|
|Mumbai||Rs. 25890.00 (0.98%)|
|Delhi||Rs. 25200.00 (-0.2%)|
|Kolkata||Rs. 25480.00 (1.03%)|
|Kerala||Rs. 24800.00 (0.61%)|
|Bangalore||Rs. 25000.00 (0.81%)|
|Hyderabad||Rs. 25080.00 (1.09%)|
Daimler AG's Mercedes-Benz on Thursday joined its German rivals Audi and BMW in raising prices of its luxury cars in India as a depreciating rupee and rising inputs costs pressured margins.
Mercedes-Benz said it would raise prices by between 2.5 and 4.5 percent from September 1 across its range of vehicles in India.
"Exchange rate effects, higher import duties and rising input costs coupled with a host of other unfavorable factors like higher interest rates has been impacting the bottomlines," the company said in a statement.
The rupee has fallen 19 percent year-to-date, driving up cost of imports, and forcing some carmakers to raise prices even as consumer spending shrinks.