Mercedes Benz India car sales: Mercedes-Benz India sees accelerated growth in premium car sales

Mercedes-Benz India said it was witnessing accelerated growth in sales of its premium cars priced above Rs 1 crore, after selling 68% more such vehicles in the first nine months of 2022. According to the company’s Vice President – Sales and Marketing – Santosh Iyer, the company, which sold 11,469 units between January and September this year, exceeding what it sold in all of 2021, saw 30% of its sales come from its high-end vehicles.

Mercedes-Benz India had sold a total of 11,242 units in 2021.

“If I look at it internally, we’re seeing 68% growth in our TEV segment, which is our high-end luxury segment, compared to the overall growth of 28%. Today, 30% of our sales are in the high end-end vehicles, cars above the price of Rs 1 crore. So this again shows the maturity of the Indian luxury car market,” Iyer told PTI.

Previously, the luxury car market was more focused on entry-level cars, but today the mix is ​​changing and the maturity is much higher, said Iyer, who has been slated to take over as as Managing Director and CEO of Mercedes-Benz India from January. 1, 2023.

“It also shows a very strong consumption capacity on the part of luxury customers,” he added.

While Rs 1 crore-plus cars account for 30% of total sales, Iyer said, “demand will be around more than 40%” as the company has a total of 7,000 units on backorder across its product line. .

Mercedes-Benz India’s portfolio of cars priced above Rs 1 crore includes premium SUVs and sedans such as GLE 450, GLE400d, GLS, GLS Maybach as well as sedans such as S-Class, Class S Maybach, the G-Class, AMG E53 and E63 AMG as well as the EQS and EQS53 AMG electric sedans.

The new EQS electric sedan has already received more than 300 confirmed reservations.

When asked if the share of premium vehicles in its total sales could increase further this year, he replied that it would depend on supplies.

“Availability of some of these premium vehicles is also a challenge in terms of supply. We have to wait and see, but it is clear that the strategy in India and globally is to increase our share of premium vehicles. We have a strong focus on being a true luxury brand to push those segments much higher,” Iyer said.

GLS, Maybach S-Class, G-Class and GLS have a nine-month waiting period, while other car lines are three to four months, he added.

Regarding the company’s overall sales growth for 2022, Iyer said Mercedes-Benz India is maintaining its forecast of double-digit growth while also aiming to do better than its record 15,538 units sold in 2018.

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