Mercedes-Benz India has recorded a remarkable 21% sales growth in the third quarter of 2024, achieving its highest-ever quarterly sales figure with 5,117 units sold. This milestone marks a significant achievement for the luxury automaker, reflecting strong demand in the Indian market despite broader economic challenges. The cumulative sales for the first nine months of the year reached 14,379 units, representing a 13% year-on-year growth, solidifying its leadership in the luxury car segment.
Several key factors have contributed to Mercedes-Benz India’s impressive performance. One of the major drivers has been its dynamic product lineup, which saw the introduction of six new models in Q3 alone. These launches, including electric vehicles (EVs) and top-end luxury cars, have appealed to a broad spectrum of consumers. The company also saw a surge in demand for its Battery Electric Vehicle (BEV) segment, with an 84% year-to-date (YTD) growth, reflecting the increasing adoption of sustainable mobility solutions among Indian buyers.
Mercedes-Benz’s top-end vehicle (TEV) segment, which includes ultra-luxury models like the Maybach S-Class and the EQS 580 SUV, also experienced a significant uptick. One in four cars sold by the company during this period belonged to this segment, showing a 125% growth in YTD sales, which highlights the growing appetite for premium and high-value models in India.
Apart from product launches, the company’s strategic focus on enhancing its retail network has also played a vital role in its success. By expanding its presence with new touchpoints across India and upgrading existing outlets to its global luxury retail format, Mercedes-Benz is ensuring that customers have easy access to sales and service centers. This effort aligns with their customer-centric approach, aimed at delivering a seamless and luxurious buying experience.
To attract more buyers during the festive season, Mercedes-Benz launched the “Dream Days” campaign, offering potential customers a chance to win year-long ownership of the CLE Cabriolet and several financing options like zero downpayment and low-interest rates. These initiatives are designed to make luxury car ownership more accessible, appealing particularly to young professionals in India.
Looking ahead, the company plans to continue its momentum by launching two more models in Q4, bringing the total number of new launches for 2024 to 14. Mercedes-Benz India’s commitment to innovation, sustainability, and customer satisfaction appears to be driving its continued success in the competitive luxury car market
