Mercedes Benz India claims that sales of its high-end automobiles costing more than Rs 1 crore have increased significantly, with 68% more of these vehicles delivered in the first nine months of 2022. Santosh Iyer, the company’s vice president of sales and marketing, claims that the company’s top-end vehicles accounted for 30% of its sales this year, when it sold 11,469 units between January and September, exceeding the number of units it sold during all of 2021. 11,242 units in total had been sold by Mercedes-Benz India in 2021.
The market conqueror
“If I examine the situation inside, we are experiencing a 68% growth in our TEV category, which is our top-end luxury area, as opposed to a 28% growth overall. Today, cars costing more than Rs 1 crore account for 30% of our sales. This demonstrates once more how developed the Indian premium car market is “Iyer said to PTI.
According to Iyer, who will take over as Managing Director & CEO of Mercedes-Benz India on January 1, 2023, the luxury car industry used to be more driven by entry-level vehicles, but currently the mix is shifting and the maturity is much higher.
It also demonstrates the luxury customer’s very great capacity for consumption, he continued.
Iyer claimed that even while automobiles costing more than Rs 1 crore make up 30% of all sales, “the demand will be around more than 40%” because the company has 7,000 units of pending orders across its entire product line.
More confirmed bookings
Premium SUVs and sedans like the GLE 450, GLE400d, GLS, and GLS Maybach, as well as sedans like the S-Class, S-Class Maybach, G-Class, AMG E53 and E63 AMG, electric sedans EQS and EQS53 AMG, are all part of Mercedes-Benz India’s lineup of vehicles that cost more than Rs 1 crore. Over 300 confirmed reservations have already been made for the recently announced electric vehicle EQS.
Among the top
When asked if the proportion of luxury automobiles in the company’s overall sales could increase this year, he responded that it would depend on supplies. “Another issue with supply is the accessibility of some of these high-end cars. Increasing our share of top-end vehicles is certainly the aim in India and around the world, but we must wait and watch. Being a true luxury brand would help us propel those markets considerably higher “added Iyer. According to him, the waiting periods for the GLS, S-Class Maybach, G-Class, and GLS are nine months long, compared to three to four months for the other car lines.
Iyer stated that Mercedes-Benz India is continuing its prediction of a double-digit growth for the company’s overall sales growth for 2022 while also aiming to surpass its record of 15,538 vehicles sold in 2018.
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