MERCEDES SALES IN 2023
Motown, slowtown: Luxury car sales slow in line with broader slowdown in Indian auto market
Carmakers attributed the sluggish performance to a broader slowdown in the Indian car market, besides intense heat waves this summer, and an extended general election. Some experts also cited a shift in spending by the wealthy to experiences such as bespoke holiday itineraries.
Mercedes seeks to tap first-time luxury buyers in India with entry-level EVs
Mercedes-Benz India, under CEO Santosh Iyer, launched the EQA 250 and EQB 350 to attract new luxury car buyers. Upcoming EVs include the EQS Maybach SUV and electrified G-Class, priced over Rs 3 crore. They achieved their best sales in 2023 and 60% EV growth in H1 2024, targeting Rs 1 crore income households for double-digit growth.
Mercedes-Benz India posts record half-yearly sales at 9,262 units
Mercedes-Benz reported a 9% growth in sales in India in the first half of 2024, reaching its highest ever half-yearly sales. The company's sales were 8,528 units in January-June 2023. The company plans to launch six new products in the second half of 2024. SUV penetration was 55% in H1 2024, with the top-end vehicle segment accounting for 25% of total sales.
Mercedes Benz eyes reduced trade barriers from new India government
Mercedes-Benz is urging the next government to prioritise the forging of more free trade agreements and reducing trade barriers to boost sales in the country's growing luxury car market. The company's India head emphasized the importance of FTAs for economic growth and expressed optimism for the future of the luxury car segment in India, where sales have been on the rise.
Iconic British car brand Jaguar Land Rover plans to ride India's luxury boom
The luxury carmaker plans to launch at least half a dozen new models from the JLR stables, both ICE and EV (internal combustion engines and electric vehicles), as it seeks to capitalise on the growing number of high-net-worth individuals in the country. This is the most aggressive push by JLR since it entered the Indian market in 2009.
Indian consumer market sees significant drop in average buyer age across cars, smartphones, and TVs
Over the past 5-6 years, the average age of Indian consumers purchasing cars, premium smartphones, and large televisions has decreased significantly, indicating a shift towards younger demographics. Major car manufacturers like Maruti Suzuki, Hyundai Motor, and Mercedes-Benz note a decline in the average buying age from the 40s to the mid-30s, with over 70% of electric car buyers being in their 20s and 30s. Similarly, the average age for purchasing Apple iPhones and large-screen televisions has dropped from the 30s to the late 20s to early 30s.
- Go To Page 1
Mercedes-Benz India reports best-ever retail sales in FY24
In the January-March period this year, the automaker sold 5,412 units, an increase of 15 per cent over 4,697 units in the first quarter of last year. The automaker said it plans to introduce nine new models this year in the country, including three new battery electric vehicles (BEVs).
Luxury car sales could breach 50,000 units mark for first time ever in 2024: Audi India head
Luxury car sales in India are on track to surpass 50,000 units for the first time in 2024, a milestone driven by increased demand. Audi India's head predicts this growth, citing a 28% annual increase in the luxury car segment in 2023. Despite supply chain challenges, the industry aims for sustained growth. Audi and Mercedes-Benz have reported significant sales increases, with Audi seeing an 89% growth and Mercedes-Benz achieving its best-ever sales year in India.
Mercedez Benz research wing expands Bengaluru presence
The company will pay a rent of ₹72 per square foot per month in the first three years of the lease, according to a source with direct knowledge of the deal. The company also renewed its lease with Embassy Crest in Whitefield from Embassy Property Developments for 60 months at the end of 2023. Mercedes-Benz Research and Development India is planning to hire over 1,000 engineers in India in the upcoming year, as per market information.
Global EV growth lags, Mercedes adjusts strategy for Indian market
Mercedes-Benz India sold less than 700 EVs in a market where its total volumes grew by 10% to 17,408 vehicles in CY2023. Globally, the penetration of electric in total sales was higher at 19% (4% in India) in the same period. Sardien, however, said the company is not looking at changing its strategic direction.
Expect India to be third largest market among 118 countries: Mercedes-Benz
Mercedes-Benz anticipates India becoming its third-largest market in the "Region Overseas" within the next 2-3 years, with expectations of strong demand for luxury vehicles. Currently, India is the fifth-largest market in the region, and Mercedes-Benz plans to add 12 new models, including three battery electric vehicles, this year. The company aims to expand its presence in smaller cities, adding outlets in 10 new locations.
Ultra rich chase Rs 1 crore-plus supercars on luxury drive
Carmakers such as Mercedes, BMW, Audi and Toyota rolled out eight new models with eight-figure price tags in 2023, taking the number of such models in the country to 31, according to data collated by Jato Dynamics. The data does not include models from super-luxury carmakers such as Rolls-Royce, Bentley, Lamborghini, and Aston Martin. Carmakers said increased wealth creation, particularly among younger people, is driving the increasing demand for top-end vehicles, or TEVs.
Mercedes-Benz says plug-in hybrids to 'stay relevant' amid EV demand slowdown
Mercedes-Benz said it now expects up to 50% of sales by the end of the decade to come from electrified cars. The carmaker has long said it was preparing for all-electric sales by 2030, but Chief Executive Ola Kaellenius cautioned towards the end of last year that even Europe would likely not be ready by then.
Mercedes-Benz sets eyes on smaller cities to fuel further growth
The luxury car market in India accounts for just over 1 per cent of the total passenger vehicle sales of around 40 lakh units annually. Mercedes-Benz is currently the leading player in the market.
Luxury car sales in India surge to record high, up 20% YoY
Luxury car sales in India reached a record high of 42,731 units in 2023, up 20% YoY. The increase is attributed to a lifestyle change after Covid-19, with younger professionals opting for high-end cars. The trend is expected to continue due to rising disposable income levels. The growth potential of this segment is significant, given the low penetration of the segment.
Mercedes-Benz to invest Rs 200 cr in India in 2024, to launch a dozen new cars
Mercedes-Benz plans a significant investment of €22 million in India in 2024, accompanied by the launch of over a dozen new cars, including electric vehicles (EVs). Emphasizing a focus on premium models, more than 50% of the new launches are set to be higher-end variants. Electric car sales tripled in 2023, constituting 4% of total India sales.
Luxury car sales hit top speed in 2023; young professionals drive surge amid lifestyle changes, robust corporate earnings
In 2023, luxury car sales in India soared to a record high, with daily sales of cars priced over ₹50 lakh, rising to 128 from the pre-Covid 95. The shift is attributed to post-Covid lifestyle changes, robust corporate earnings, and increased interest from younger professionals.
Automakers brace for moderate sales after record 2023; gear up for more EV launches in 2024
Federation of Automobile Dealers Associations President Manish Raj Singhania said the automobile sector is poised for steady growth next year with an expected low single-digit growth in passenger vehicles and high single-digit growth in two wheelers.
The driving force behind EV sales: It's range, baby!
Tata Motors dominates the domestic EV market with its Tiago, Nexon and Tigor models, followed by MG Motor India's Comet and Mahindra & Mahindra's XUV400. The electrification wave is also capturing the luxury car segment, where Mercedes EQS has the highest claimed driving range of 857 km, Audi Q8 e-tron at 600 km and BMW i7 a range of 590 km, according to market researcher Jato Dynamics.
Mercedes, Audi see record sales in festive season this year
BMW Group India President Vikram Pawah said the company has launched some powerful products - both cars and motorcycles in the festive period. "We will keep this momentum going," he added.
Global EV sales stay strong, China hits record despite end of subsidies
China ended an 11-year subsidy scheme for EV purchases in 2022, but some local authorities have continued to offer aid or tax rebates to attract investments as well as subsidies for consumers.
Record sales in sight for 2023, Mercedes-Benz India bullish on 2024 outlook
Mercedes-Benz India is anticipating another year of record sales, with strong demand and new product launches in 2023. Despite challenges in the supply chain, the company's Managing Director and CEO, Santosh Iyer, is optimistic about ending the year on a high note. They have launched two new products, the GLE SUV and AMG C 43, completing their planned launches for 2023.
In pursuit of going all-electric by 2030, Mercedes Benz India offers attractive support to customers
The German premium carmaker had earlier shared its ambitious plan of targeting all-electric sales by 2030 "where markets allow". In line with the electrification efforts for the India unit, Mercedes Benz offering customers several benefits for buying electric vehicles (EVs). This includes supporting them with one time Sustainability Loyalty Bonus, 50% road tax support in those states where road tax is applicable at the time of EV registration, and free charging for all EV users in the network. They are valid till the end of October.
Mercedes will not play on price but value in electric vehicles: India chief Santosh Iyer
“For us, volume is not a strategy and it’s the outcome of what we do. As a luxury brand, we are measured by customer experience and profitable growth. To achieve this, we need to be cautious about how we go about EVs. It must be a long-term strategy. That’s our core strategy,” Mercedes-Benz India managing director and chief executive Santosh Iyer said.
Mercedes on track to continue record sales in 2023 amid surging demand
Mercedes-Benz expects 2023 to be its best year in terms of sales in India, driven by growing demand for high-end cars post-pandemic. The luxury carmaker sold a record 15,822 units in India in 2022 and anticipates the overall luxury car segment to perform well this year
Luxury carmakers Mercedes, Lexus, Audi expect bumper sales in festive period
With a strong demand primarily driven by recent launches and buoyant customer sentiment, Mercedes-Benz expects the growth momentum to continue, Mercedes-Benz India Managing Director and CEO Santosh Iyer said. Lexus India President Naveen Soni said the luxury car market continues to grow in the country.
Mercedes Benz expects to report best-ever sales in India on the back of new GLC launch
Mercedes Benz expects to report its best-ever sales in India by launching its new SUV GLC and expanding sales in its core segment. The company plans to increase the percentage of sales in the core segment from the current 60% through the GLC, for which it received 1,500 bookings in the last two weeks. Additionally, Mercedes Benz plans to launch four more products by the end of the year and 10 in total in 2023. The company is on track to achieve double-digit growth in sales in 2022 and its best-ever sales yet in 2023.
Luxury car market in India poised for record sales in 2023 after stellar H1 numbers
Mercedes-Benz, BMW and Audi have recorded record numbers in the first half of 2023, with 8,528 units sold by Mercedes-Benz alone. BMW and MINI brands also posted record sales of 5,867 luxury cars, while Audi reported a 97% jump in retail sales. Sales in the Indian luxury vehicle market are expected to reach 46,000-47,000 this year, an all-time high, according to Balbir Singh Dhillon, Audi India Head.
Luxury vehicles selling like hot cakes in India in 2023
Steady domestic economic growth amid signs of moderating inflation, coupled with strong corporate earnings, are fuelling demand at the higher end of the market and supporting sales of luxury vehicles. Within luxury, too, demand was stronger for top-end vehicles priced upward of ₹1 crore, said a senior industry executive. At Mercedes Benz, sales of top-end models, in fact, more than doubled in the first quarter.
Load More
