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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.”

Mercedes-Benz Korea's new Busan Exhibition Center and Service Center in Northern Busan opened on Thursday. (Mercedes-Benz Korea)
Mercedes-Benz Korea's new Busan Exhibition Center and Service Center in Northern Busan opened on Thursday. (Mercedes-Benz Korea)

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)
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