Mercedes-Benz India sees accelerated sales in top-end range

Mercedes-Benz India sees accelerated sales in top-end range

The newly launched electric sedan EQS has already received over 300 confirmed bookings.

FPJ Web DeskUpdated: Sunday, October 16, 2022, 05:10 PM IST
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The Mercedes Benz logo known as the “Mercedes star” |

Mumbai: Mercedes-Benz India said 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.

According to the company's Vice President (Sales and Marketing), Santosh Iyer, the company, which sold 11,469 units in the January-September period this year, surpassing the sales of 2021, has seen 30% of its sales come from its top-end vehicles.

"If I look at it internally, we are seeing 68% growth in our TEV segment, which is our top-end luxury segment, compared to the overall growth of 28%. Today, 30% of our sales are in top-end vehicles, meaning cars above Rs 1 crore in price. So, that shows again the maturity of the Indian luxury car market," Iyer said

Mercedes-Benz India sold a total of 11,242 units in 2021. The newly launched electric sedan EQS has already received over 300 confirmed bookings.

While the Rs 1 crore-plus cars account for 30 per cent of total sales, Iyer said, "the demand will be around more than 40 per cent" as the company has an overall 7,000 units of pending orders across its product range.

Earlier, the luxury car market was more driven by entry-level cars, but today the mix is changing and the maturity is much higher, said Iyer, who has been designated to take over as Managing Director & CEO of Mercedes-Benz India with effect from January 1, 2023.

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, 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.

Iyer stated that the share of the top-end vehicles in its total sales this year will depend on the supplies. "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 added.

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

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

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