Mercedes-Benz India outsells BMW to retain number-one luxury carmaker tag in 2024
- Every one out of four Mercedes-Benz cars sold in India in 2024 was a top-end vehicle priced above the ₹1 crore mark.
Mercedes-Benz India announced its retail sales for the 2024 calendar year and the automaker registered its highest-ever annual sales with 19,565 units sold. The Stuttgart-based luxury carmaker pipped BMW once again to retain the ‘best-selling luxury carmaker’ tag in India as the Bavarian automaker sold 15,012 units (excluding MINI sales) during the same period.
Consistent Growth In All Quarters
Mercedes-Benz India registered a growth of 12.4 per cent in 2024 sales when compared to 17,408 units sold in CY2023. The automaker registered consistent growth in all four quarters solidifying its numbers for the year. Sales in the second half of the year (July to December) increased by 16 per cent year-on-year, despite facing market challenges and macro-economic headwinds, the company said.
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Top-End Vehicle (TEV) Sales Grew Fastest
Mercedes also revealed that its Top-End Vehicle (TEV) sales (upwards of ₹1 crore) grew fastest with a 30 per cent year-to-date growth for models like the Maybach S-Class, GLS SUV, EQS 580, and more. In 2024, every one out of four Mercedes-Benz cars sold in India was a TEV.
Furthermore, Mercedes-Benz India hit the 200,000 sales milestone in 2024 since starting operations in 1996. While the first 50,000 units took 20 years, the company clocked the next 50,000 units in five years (2014-2018). Notably, the last 100,000 units were sold in just six years between 2019 and 2024.
EV Sales Grew By 94%
Electric vehicles also became small yet strong contributors to the German carmaker’s overall volumes. EVs contributed six per cent to the total sales last year and the segment saw a 94 per cent year-to-date growth in 2024 over the previous calendar year. The brand expanded its portfolio with newer models like the EQA, EQS SUV, Maybach EQS SUV, and more in 2024. That said, Mercedes had a total of 14 car launches in 2024 including nine high-end vehicles helping it reinforce its number one position.
Notably, more accessible financial solutions played a crucial role in making purchases more convenient. The luxury carmaker revealed that its Mercedes-Benz Financial Services crossed a significant milestone with its portfolio crossing ₹10,000 crores in India. The service financed more than half of the cars in 2024. About 80 per cent of customers opted for insurance through the company’s services.
Roadmap for 2025
Mercedes-Benz has a new offensive strategy in 2025 and kicked off its launches for the year with the new EQS SUV variants and the all-new G 580 electric SUV, bringing an electric powertrain to the iconic G-Wagen. The luxury carmaker will have a total of eight new launches in 2025 including the Mercedes-Maybach EQS SUV ‘Night Series’ scheduled for launch at the Bharat Mobility Global Expo next week.
Watch: Mercedes G 580 EQ launched in India at ₹3 crore. Claimed range of around 420 kms. #shorts
The automaker also plans to expand its network with 20 new touchpoints in 2025 entering newer markets like Agra, Kanpur, Jammu, and Patna, among others. The company said it transformed 40 outlets into the latest ‘MAR20X’ global luxury retailing format and will extend the same this year as well. Mercedes-Benz India’s franchise partners will invest over ₹450 crore over the next three years in transforming the existing dealerships. Lastly, the automaker will install over 100 more DC charging points across its network for EV buyers.
Check out Upcoming Cars in India 2024, Best SUVs in India.
