Mercedes-Benz India retailed 9,262 units of cars and SUVs in the first six months of 2024, recording its highest half-yearly sales in the country. It also saw its best-ever second-quarter performance. The German carmaker firmly maintains its lead in the luxury segment. BMW came in second with 7,089 units sold in H1; Audi, with 2,477 units, was third.
- Mercedes recorded 9 percent year-on-year growth in H1
- SUVs comprised 55 percent of its total sales
- German company to launch six more vehicles in the second half
Mercedes-Benz India half-yearly sales split
Without providing the model-wise sales breakdown, Mercedes-Benz said SUVs comprised 55 percent of its overall sales. The brand claims it witnessed robust demand across all the entry-level, core and top-end segments, with the Maybach range growing the highest at 108 percent in H1. A fourth of its sales came from top-end vehicles.
Electric vehicles’ share in its H1 sales was 5 percent, and the segment grew 60 percent over the year-ago period. This means Mercedes sold the highest number of EVs in the luxury segment during the first half of this year. For context, rival BMW Group (BMW and Mini) sold 397 EVs in the same period. With the launch of the new EQA and the updated EQB, Mercedes now has four EVs in its portfolio in India; it plans to raise the number to six by year-end.
On the whole, the brand recorded a 9 percent year-on-year growth over the H1 of 2023, when it sold 8,528 vehicles. The automaker has also lined up six more launches for the second half.
Mercedes-Benz on track for double-digit annual growth
Mercedes-Benz India is confident of ending the year with record sales. The company has had “an excellent first half” and is on track for double-digit growth, its CEO and MD, Santosh Iyer, told our sister publication, Autocar Professional.
The company’s best-selling car, the E Class, is in a run-out phase, and its new-generation model would come in only towards the year-end. Yet, the company is confident of growing at a healthy pace.
Never mind that the second quarter that ended in June was a “bit slower”. That was expected because of elections, said Iyer. “Generally, the season has been low, so it’s not a surprise.” What’s also driving the optimism is that the inquiry levels have not dropped. “There is still a lot of interest. Customers in our segment are travelling. Once they are back, along with the wedding and festive season, we should see this demand going in.”
Much like the mainstream car market, the entry-level luxury segment witnessed a softening in demand in Q2, leading to discounts in the market. “We won’t participate [in discounts] for sure. I think it’s also more of a seasonal impact, coupled with elections and other issues. But when I talk about my core or top-end segment, we see fantastic growth even in Q2,” added Iyer.
WITH INPUTS FROM KETAN THAKKAR
Hormazd Sorabjee
Anurag Chaturvedi
