As the new 2016 budget is creating its impact, luxurious automobile company Mercedes is all set to raise prices of Mercedes Benz by upto 5 lakh.
In India the German luxury brand sells cars in the range of Rs28 lakh and Rs1.67 crore (ex-showroom price ), and the hike is estimated around 3%-5% depending on the car model.
The company justified that it was left with no option but to revise the prices, when additional duties and taxes were laid down by the union budget supported by the crumbling of Indian currency.
Tata also revised the prices of its passenger vehicles by Rs35,000. Infact companies like Hyundai and Honda have expressed their intentions to hike prices of their fleets in India.
The Budget is surely cutting down on luxuries, and if one thing for good, the public transport might see more passengers this year!
