Mercedes-Benz Korea to hike prices next month

Starting Feb. 1, Mercedes-Benz customers in Korea are going to encounter slightly higher prices, according to the local branch of the German automaker Wednesday.

“The change in price will be a minimum of a 0.4 percent increase, with a maximum increase of 1.2 percent (average of 0.8 percent),” said a representative of Mercedes-Benz Korea in a press statement. “The reasons for the increase is due to the rising costs of logistics, raw material prices, inflation as well as upgraded product specifications.”

The new higher prices will mean future customers should anticipate paying from 400,000 won ($340)  to 2.5 million won more for Mercedes-Benz vehicles in Korea.

Mercedes’ mid-size sedans will see the smallest price increase. Heftier price hikes will be applied to the automaker’s S-Class vehicles, which will be subject to 1 million won to 1.6 million won increases. The AMG G 65 Edition 463 luxury SUV will see an increase of 2.5 million won, with its new price tag at 378 million won.

The company also recently unveiled its sleek new E-Class Coupe for the first time at the North American International Auto Show in Detroit earlier this week. The 2018 model of the two-door luxury Coupe is expected to be released in Korea within the year.

By Julie Jackson (juliejackson@heraldcorp.com)