Mercedes-Benz India may increase prices of its model range in April, if the rupee continues to weaken against the euro, Managing Director & CEO Santosh Iyer said on Tuesday. The company, which took a price hike in January this year, also expects the luxury car sales to remain under stress for at least two quarters with muted demand. "When we look at the exchange rate, it has really been a bit concerning in the last 20 days because the euro has already reached 95 levels, and we have priced the cars at 90 (rupee level). So there's a significant increase in this, and that may lead to price increase if this continues from April," Iyer told reporters here. Euro's exchange rate in terms of Indian rupee has been witnessing a continuous fall this year. From the level of 89.96 on February 12, the exchange rate hit the record low of 95.13 against a euro on March 12, according to RBI data. A euro was valued at Rs 94.55 as on Tuesday. The company needs to react to any averse fluctuations in .