Mercedes-Benz India posts record sales, outpacing luxury market growth

Mercedes-Benz India reported a significant sales milestone for 2024, delivering 19,565 vehicles and marking a 12.4% year-on-year increase, according to CEO Santosh Iyer. Speaking on January 9, Iyer attributed the company’s performance to strategic moves, including a broadening of its electric vehicle (EV) offerings, increased localization of production, and the launch of the new E-Class.

The first half of 2024 saw a robust 9% expansion in the luxury car market, with Mercedes-Benz tracking the broader trend. However, it was in the latter half of the year that the automaker surged ahead of its competitors, achieving a remarkable 16% growth rate while the overall luxury market grew by just 3%.

Iyer highlighted that the company’s continued success was supported by a Rs 3,000 crore investment aimed at solidifying its leadership position in the Indian luxury segment. “With this investment, we lead the Indian market by any luxury OEM,” he said.

The G580, a model designed for off-road enthusiasts, is one of the brand’s standout offerings. This rugged luxury SUV is priced at Rs 3 crore (ex-showroom). Despite its off-road prowess, it retains the iconic G-Class design elements, such as circular LED headlights and a rear-mounted storage box for charging cables. Inside, it offers cutting-edge technology with dual 12.3-inch displays, Android Auto and Apple CarPlay compatibility, wireless charging, and a premium Burmester sound system.

On the more accessible side of the EV spectrum, Mercedes-Benz also launched the locally assembled EQS SUV 450. Priced at Rs 1.28 crore (ex-showroom), the EQS SUV 450 targets eco-conscious luxury buyers seeking sustainability without compromising on luxury.

As Mercedes-Benz continues to expand its footprint in India, its range of vehicles, from off-roaders to electric SUVs, are being geared to appeal to a growing base of luxury consumers eager for both performance and sustainability.