- Mercedes-Benz India is betting big on strong demand, especially for high-end models to thrive for double-digit sales growth in FY25.
Mercedes-Benz India is aiming at double-digit sales growth in the current financial year. The German auto giant that leads the Indian luxury car market is betting big on the strong demand for premium cars, especially the high-end models to achieve its target of a double-digit sales growth in FY25, reported PTI.
Mercedes-Benz India launched the Mercedes-Maybach GLS 600 4MATIC SUV and Mercedes-AMG S 63 E Performance Edition in the country on Wednesday. In its bid to achieve double-digit sales growth, the OEM is betting big on these two models along with other models in the brand’s portfolio.
Watch: Mercedes Maybach GLS 600 SUV launched in India: First look
In the last financial year that ended in March this year, Mercedes-Benz India sold 18,123 cars in the country. With this retail number, the luxury car brand registered a 10 per cent year-on-year growth in FY24, compared to 16,497 units sold in the previous fiscal FY23. The report also stated that during January-March this year, Mercedes-Benz India sold 5,412 units, registering a 15 per cent sales growth over 4,697 units sold in the first quarter of last year.
Speaking about the brand’s sales expectations, Mercedes-Benz India VP (Sales & Marketing) Lance Bennett reportedly said that the top-end models of the company remain robust. “We expect double-digit sales growth this fiscal as well. The demand for the company’s top-end vehicles (TEV) remains robust,” he said, while also adding that the company is focused on strengthening the TEV segment, which accounted for one out of every four Mercedes-Benz cars sold in India during the first quarter of 2024.
Speaking about the launch of the new Mercedes-Maybach GLS 600 4MATIC and the AMG S 63 E Performance, Mercedes-Benz India MD and CEO Santosh Iyer reportedly said that the TEV segment remains buoyant, fuelled by high demand and unwavering customer loyalty. He also said that the TEV segment comprises 25 per of total Mercedes-Benz car sales in India.
Iyer further said that the consumer preference for such high-end luxury cars reiterates the growing popularity of exclusive top-end luxury vehicles, such as the GLS, Maybach, and AMG range. “The TEV segment represents our key focus area, and with these exclusive models, we are now offering our discerning Indian customers two highly desirable vehicles from our global portfolio,” Iyer reportedly said.
First Published Date: 23 May 2024, 09:03 AM IST