Mercedes-Benz rolls out 2 new top-end models

Mercedes-Benz, the renowned German luxury automobile manufacturer, has expressed optimism regarding its performance in the current calendar year. The company anticipates achieving a double-digit growth rate and expects demand to remain robust during the upcoming festive season, mirroring the positive trends observed in the previous year. This information was shared by Santosh Iyer, the Managing Director and CEO of Mercedes-Benz India, during an interview with PTI at an event showcasing two new high-end vehicle models.

Iyer highlighted the company's progress in the electric vehicle (EV) segment, noting significant growth in this area. He also revealed plans to introduce an electric version of the prestigious Maybach in September of this year, further expanding their EV offerings.

The launch event featured the unveiling of two premium models: the Mercedes-AMG GLC 43 4MATIC Coupé and the CLE 300 Cabriolet AMG Line. These vehicles, priced at INR 1.105 crore and INR 1.10 crore respectively, serve to bolster the company's top-end product range, catering to the luxury segment of the market.

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Reflecting on the company's performance, Iyer noted a 9 per centgrowth in the first half of 2024. He acknowledged that the second quarter typically experiences lower sales due to seasonal factors, with this year's figures further impacted by the election period. However, he expressed confidence in the market's resilience, citing strong booking trends for the third quarter. Based on these indicators, Mercedes-Benz India is optimistic about achieving double-digit growth by the end of the year, potentially making it their most successful year to date.

Iyer emphasized the importance of the top-end vehicle (TEV) segment in driving customer loyalty. He noted that this segment experienced a 12 per centgrowth in the first half of 2024, outpacing the overall growth rate of 9 per cent. The core luxury segment, which includes popular models such as the E-class, C-class, GLC, and GLE, constitutes 60 per centof the company's portfolio in India.

Looking ahead, Mercedes-Benz plans to introduce a new E-class model, which is expected to generate significant momentum in the core luxury segment. Iyer reiterated the company's commitment to maintaining its dominant position in the top-end segment of the market.

In a significant development for EV enthusiasts, Iyer announced that Mercedes-Benz will launch the EQS Maybach SUV in India on September 5th. This addition will expand the company's top-end portfolio, which currently comprises 16 car models.

Discussing current market trends, Iyer noted a strong start to August and referenced the 14 per centyear-on-year growth in total passenger vehicle sales observed in July. He interpreted this as a sign of reviving market momentum following a brief lull during the election period.

Regarding the upcoming festive season, Iyer expressed optimism based on early indicators such as incoming leads and inquiries. He anticipates that the demand for luxury cars will be comparable to, if not better than, the previous year's festive season.

Mercedes-Benz India reported impressive sales figures for the first half of 2024, with 9,262 units sold, marking a 9 per centincrease from the same period in 2023. This performance represents the company's highest-ever half-yearly sales in India, driven by strong demand across various categories and improved availability of volume models.

Notably, the company's battery electric vehicle (BEV) portfolio demonstrated remarkable growth, expanding by 60 per centin the first half of 2024 and accounting for 5 per centof total sales volumes. This growth in the EV segment underscores Mercedes-Benz's commitment to sustainable mobility and its responsiveness to evolving consumer preferences in the luxury automobile market.