HomeBusinessCompaniesMercedes-Benz India posts record sales at 4,697 units in March quarter

Mercedes-Benz India posts record sales at 4,697 units in March quarter

Mercedes-Benz recorded record sales in India of 4,697 units in the first quarter of 2023, a 17 percent increase over the previous year, with top-end cars priced over Rs 1 crore enjoying rapid growth.

Mercedes-Benz India, which sold 4,022 units in the same quarter last year, introduced the hybrid AMG GT 63 S E Performance model, with pricing beginning at Rs 3.3 crore (ex-showroom Delhi), as part of its goal to boost sales of high-end cars. (TEVs).

For the fiscal year ending March 31, 2022, the firm reported its highest-ever sales of 16,497 units, up from 12,071 units in 2021–22, a 37 percent increase.

“Overall, our growth story continues with a record quarter and a record fiscal year…Double-digit growth continues for us in 2023,” Mercedes-Benz India Managing Director & CEO Santosh Iyer told PTI.

He said, “When I look at the composition, the top-end vehicles (TEVs) actually showed more than 100 percent growth in quarter one at 107 percent…So the juggernaut with the top-end vehicles continues also in quarter one.”

Mercedes-Benz India’s TEVs include the S-Class Maybach and GLS Maybach, top-end AMGs, and S-Class and GLS SUVs that cost more than Rs 1 crore. (ex-showroom).

The business, which reported record sales of 15,822 units in 2022, had sold over 3,500 TEVs, a 69 percent increase.

“We as a brand are highly focused in India and worldwide to grow the TEV segment. The India strategy only further resonates,” Iyer said, adding that the growth of the company’s TEV sales is also a “clear reflection of the changing luxury car market in India”.

Earlier, he said the composition of the luxury market used to be dominated by entry-level luxury cars, but has “changed, at least for us”.

“It reflects the changing profile of customers,” he said of electric automobiles. At the highest level, they now seek to blend sustainability with luxury. This definitely demonstrates the changing profile of Indian customers.” In line with its aim of accelerating TEV sales growth, Mercedes-AMG debuted its hybrid AMG GT 63 S E Performance model on Tuesday, which is the company’s most powerful production vehicle. It makes use of technology that has previously been proven in Formula One racing.

It is powered by a 4.0-litre V8 turbo engine and an electric motor, producing 843 horsepower and sprinting from 0 to 100 kmph in 2.9 seconds.

Iyer said that all Mercedes-AMG GT 63 S E Performance clients would get the key from multiple Formula One world champion Lewis Hamilton.

In terms of current demand, Iyer said that Mercedes-Benz India now has an order bank of over 4,000 vehicles.

“The order bank situation continues to be strong. Our focus is on delivering them and that’s the reason for our best-ever quarter and also best-ever fiscal. It’s not only about taking bookings and waiting, but we are also able to sell a significantly high number of cars,” he added.

When asked about the new product launch strategy, he stated, “Right now, we are launching one car.” He had postponed some of the releases anticipated for the first quarter of 2023 to the second and third quarters. If feasible, we want to deploy an additional one or two automobiles this quarter. Our launch is still ongoing. We are still committed to the ten launches planned for this year.” To minimise lengthy wait times, the firm is increasing the availability of parts and components in order to begin manufacturing more automobiles by collaborating with its supply chain to optimise part availability as much as feasible.

Mercedes-Benz India has already said that it has decreased the waiting time for its vehicles.

The current waiting times for A-Class, C-Class, and E-Class models range from zero to three months, while those for GLE, GLS, and S-Class models range from two to six months.

The waiting time for the company’s electric cars is now two to six months, while that for the G-Waggon and GLS Maybach is eight to sixteen months, it noted.

Regarding the fiscal year’s growth prospects, Iyer said that the firm expects double-digit growth.

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