Mercedes-Benz India has announced an increase in the prices of its chosen model range. These prices will go up by 3 per cent on the model range from August 2019. While the models of which models the company is raising are yet to be cleared, it will be known when prices go up next month. The car company noted that prices have been hiked due to the current increase in custom duty on automotive parts and additional cess and excise duty on fuel. Let us know the full details

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In his statement, Martin Schwenk, Managing Director & CEO, Mercedes-Benz India, said, "As the leading luxury automobile manufacturer in India, we are constantly working on the best offer of products and industry benchmark service and ownership experience. However, the increase in customs duty on automotive parts, the increase in excise duty is complicated and the cess on fuel has had a significant impact on our bottom line. We were left with fewer options, but it has become imperative to raise prices in our product range to overcome the impact of rising input costs."

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For your information, the carmaker had earlier raised prices in India with several car companies in September 2018. At that time, the value of the Indian rupee against the US dollar had reached about 73. Recently, Mercedes-Benz India has also registered a decline of 18.60 per cent in sales in the Indian market in the first half of the calendar year 2019.The company has sold 6561 units in the January-June period, compared to 8061 units in the same period last year. What will be the impact of this increase on sales?

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