Mercedes-Benz Achieves Record Sales in India Driven by Luxury and Electric Vehicle Demand

According to foreign media reports, German luxury car manufacturer Mercedes-Benz has announced that its sales in India reached a record high in the first quarter (April to June), driven by strong demand for high-end models and electric vehicles, with a year-on-year increase of 10% to 4,238 units. Santosh Iyer, CEO of Mercedes-Benz India, stated, "We focus on the high-end luxury car segment and have achieved great success in influencing customer preferences." In the April to June quarter, sales of high-end models such as the Mercedes-Benz S-Class and the Mercedes-Maybach series grew by 20%. The luxury automaker noted that there was particularly strong demand for models like the EQS Maybach Midnight Series, the G 580 equipped with Mercedes EQ technology, and the AMG G 63. Mercedes-Benz's all-electric vehicle lineup also saw significant growth, with sales in India surging by 157% in the first quarter, currently accounting for 8% of Mercedes-Benz India's total sales. The core model lineup, including the C-Class, E-Class sedans, and GLC and GLE SUVs, grew by 10% this quarter, making up 60% of the company's total sales in India. Notably, in the entry-level luxury car segment, Mercedes experienced a slight decline in sales due to increased competition in this price range. However, the company stated that its entry-level products still possess strong appeal due to their rich features and luxury brand characteristics. Mercedes-Benz leads the luxury car sales in India, followed closely by BMW and Tata Motors' Jaguar Land Rover. Some models, including electric vehicles, are produced and assembled at Mercedes-Benz's Chakan plant in Maharashtra, India. India is the third-largest automotive market in the world, and over the past few years, there has been a fundamental shift in the younger generation's attitude toward purchasing luxury brands, leading to a steady increase in demand for luxury models. However, luxury car sales still represent a small portion of India's new car market of 4 million vehicles annually, with a market share of just over 1%.