Mercedes-Benz India registers growth in top-end car sales
Mercedes-Benz India declared that it has observed faster growth in the sales of its top-end models which are priced over ₹1 crore. The luxury carmaker shared that it has registered an uptick of 68 per cent in the sales of these models in the first nine months of 2022.
Vice President, Sales and Marketing, Santosh Iyer informed that the company sold 11,469 units in the period of January to September period this year. These figures have surpassed what Mercedes-Benz sold in the domestic last year. Iyer also added that 30 per cent of the company's sales is coming from its top-end vehicles. He said, “So, that shows again the maturity of the Indian luxury car market."
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Iyer, who has been designated to take over as Managing Director & CEO of Mercedes-Benz India with effect from January 1, 2023, explained that earlier the luxury car market was more driven by entry-level cars but now the mix is changing and the maturity is much higher. “It also shows a very strong consumption ability by the luxury customer," he was quoted. Iyer mentioned that the current 30 per cent growth will move to 40 as there is an overall 7,000 units of pending orders in total across its product range.
Mercedes-Benz India's products that cost over ₹1 crore include luxury SUVs and sedans such as GLE 450, GLE400d, GLS, GLS Maybach along with sedans such as S-Class, S-Class Maybach, G-Class, AMG E53 and E63 AMG along with electric sedans EQS and EQS53 AMG. The brand also recently launched its much-awaited electric sedan, the EQS 580 which has already received over 300 bookings.
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Iyer also highlighted that the availability of some of these top-end vehicles is also a challenge in terms of supply. “We have to wait and see, but clearly the strategy in India and globally is to increase our top-end vehicle share. We are highly focused on being a true luxury brand to push those segments much higher." he was quoted in a PTI report.