India’s most desirable luxury car maker Mercedes-Benz outlined an intense market strategy, comprising new product introductions, qualitative network expansion, debut in emerging markets and continued focus on creating elevated customer experiences. The ‘Desire to Exceed’ market strategy received overwhelming customer trust, reflected in Mercedes-Benz’s highest monthly, quarterly and financial year sales ever, in its 30 years of Indian operations.
Mercedes-Benz was able to create a strong desire for its products and services, delivering a record 5412 new Mercedes-Benz vehicles to customers, in the January- March 2024 period. The company thus recorded a healthy 15% y-o-y sales growth (Q1 2023: 4697 units). Mercedes-Benz also recorded its highest fiscal sales ever in India, with 18,123 units sold in FY 2023-24 (FY 2022-23: 16, 497 units; +10%). March 2024 recorded Mercedes-Benz’s highest single monthly sales ever, in India.
The triple accomplishment of the highest ever month, highest quarter ever and the best-ever fiscal sales were accomplished on the back of a strong customer preference for a Mercedes-Benz. This success is buoyed by an attractive product portfolio, elevated customer moments enabled by delightful ownership experiences, and personalized finance innovations.
Consistent performance across segments: Mercedes-Benz India’s multiple sales record is strongly underlined by the consistent performance from across the Entry, Core Luxury and TEV segments of the company. The entry segment comprising A-Class sedan and GLA SUV was able to register a strong presence with sales contribution of 15%. The ‘Core Segment’ comprising the C-Class, LWB E-Class sedans and the GLC and GLE SUVs contributed a significant 60%, to the overall sales volumes of Mercedes-Benz in Q1 2024. The TEV segment also continued to command 25% of Mercedes-Benz’s overall sales in India, firmly reiterating the continued customer preference for top-end luxury and exclusive vehicles like the GLS, S-Class, Mercedes-Maybach, the EQS, G-Class and the AMG range.
Doubling of BEV portfolio in 2024: Mercedes-Benz BEV portfolio clocked a robust 130% y-o-y growth in Q1 2024 with strong response to the EQE SUV, in addition to the EQB SUV and the top-end EQS luxury sedan. The penetration of the BEV portfolio grew more than 6% from earlier 4% in Q1 2024. Mercedes-Benz plans to debut three new BEV in the remaining quarter of 2024- doubling its BEV portfolio to 6 BEVs by end of 2024.
Upcoming launches in Q2 2024: Mercedes-Benz has lined up some of the most exciting and eagerly awaited vehicles’ debut for Q2. Strengthening the TEV segment, Mercedes-Benz will debut the combination of luxury and performance through the ultra-exclusive AMG S 63 e-Performance sedan. The company will also debut the cracker of a performance vehicle, the AMG C 63 e-Performance, strengthening its AMG performance portfolio.
AMG Speed City for performance enthusiasts: Mercedes-Benz will create an innovative ‘AMG Speed City’; a one-stop arena for performance enthusiasts from across India. At ‘Speed City’ performance enthusiasts can hone their performance driving skills with the latest AMGs and push the cars to their maximum limit under expert guidance. AMG enthusiasts will also enjoy an immersive AMG brand experience. The ‘AMG Speed City’ will be conducted by AMG experts from Renger Racing, trained at Affalterbach. Mercedes-Benz will also gamify the ‘Speed City’, adding to the adrenaline and fun quotient. With ‘Speed City’ Mercedes-Benz will celebrate the long-standing AMG spirit of ‘driving performance’ with performance purists, sharing the common passion for performance and design.
Retail expansion in New Delhi and Mumbai in Q2’24: As part of strategic market expansion, Mercedes-Benz plans expansion of its retail network with world-class MAR 20X facilities in the key metropolis of New Delhi and Mumbai. To be inaugurated in April 2024, these MAR 20X facilities will offer an immersive modern luxury brand experience. Mercedes-Benz will also expand its presence in emerging markets with state-of-the-art MAR 20X service facilities.
Debut in new ‘emerging markets’ with state-of-art workshops: Mercedes-Benz India workshops will debut in 10 new cities by end of 2024. Markets like Jammu, Kannur, Kottayam, Udaipur, Amritsar, Agra, Valsad, Patna will have a state-of-the-art Mercedes-Benz workshop by end of 2024. The company will also transform 25 existing facilities to international MAR 20X standards to support an enhanced customer experience, driving customer delight and ownership pride.
Santosh Iyer, Managing Director & CEO, Mercedes-Benz India said in a press statement:
Thanks to the continued trust of customers in our products and services, we achieved the best-ever month, highest-ever quarter and best-ever fiscal in India. This trust reflects in the unmatched desirability for Mercedes-Benz in India, resulting in an overwhelming customer response. Our focus continues to enhance customer delight by increasing our network footprint with latest luxury standards, continued product offensive with sharp focus on TEVs and BEVs. Mercedes-Benz is committed to the Indian market, having a long history and well-established footprint from various aspects
(All sales figures of Mercedes-Benz India are that of retail sales)
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