Luxury automaker’s Q3 sales surge by 21%, sets new benchmark for January-September performance; BEV portfolio shows impressive 84% growth.
Pune: Mercedes-Benz India has set a new milestone in its journey, clocking its highest-ever Q3 and January-September year-to-date (YTD) sales figures in 2024, affirming its position as the most sought-after luxury car brand in the country. The company reported record-breaking sales of 5,117 units for Q3 2024, marking a 21% increase compared to the same period in 2023. For the January-September 2024 period, the automaker reached 14,379 units, reflecting a 13% year-on-year growth.
This impressive growth was driven by Mercedes-Benz’s dynamic product portfolio, which saw six new models launched in Q3 2024 alone. The company’s strategy of introducing new and attractive vehicles has continued to resonate with Indian consumers, bolstering its market leadership. In addition, two more product launches are planned for Q4, bringing the total to 14 new models by the end of 2024.
Electric Vehicle (EV) Surge: BEV Sales Soar by 84%
Mercedes-Benz’s commitment to sustainable mobility has also paid off significantly, with its battery electric vehicle (BEV) segment experiencing an 84% growth in YTD sales for 2024. BEVs now account for nearly 6% of the brand’s total sales in India, making it the highest-selling luxury BEV brand in the market. The current portfolio includes six electric models, including the newly introduced EQA 250+, facelifted EQB SUV, and the locally manufactured EQS SUV 580. This expansion underscores Mercedes-Benz’s focus on meeting the diverse needs of Indian customers while promoting a transition to zero-emission vehicles.
Top-End Vehicle (TEV) Segment: Rising Demand for Ultra-Luxury Models
The company’s top-end vehicle (TEV) segment also saw a substantial increase, with 1 out of every 4 cars sold being a premium model. The TEV range, including the Mercedes-Maybach S-Class, GLS SUV, and EQS 580 SUV, showed a robust 125% growth in YTD sales. This trend reflects a growing preference among Indian buyers for ultra-luxury models, and Mercedes-Benz continues to dominate this high-value segment with an 18% growth rate.
Expanding Presence: Network and Retail Transformation
Mercedes-Benz India is actively expanding its footprint across the country. In the first nine months of 2024, the automaker inaugurated six new touchpoints and revamped 11 outlets to align with its global ‘MAR20X’ luxury retailing format, enhancing the customer experience. By the end of 2024, nearly 40 outlets will be transformed under this initiative. Additionally, Mercedes-Benz plans to establish a presence in four new cities—Amritsar, Kottayam, Agra, and Kanpur—pursuing its strategy of ensuring that customers are never more than two hours away from a service center.
“Dream Days” Campaign: Celebrating Aspirations
In line with its festive offerings, Mercedes-Benz India has launched the “Dream Days” campaign, providing potential buyers with an opportunity to test drive any model and a chance to win a year-long ownership of the newly launched CLE Cabriolet. Supported by Mercedes-Benz Financial Services, the campaign offers zero downpayment, low-interest rates, complimentary insurance, and a 7-year loan tenure on select models. The initiative aims to make luxury ownership accessible and has already garnered a strong response, attracting young professionals eager to celebrate their achievements with a symbol of success.
Santosh Iyer, Managing Director & CEO of Mercedes-Benz India, commented: “Our record-breaking Q3 and YTD sales showcase the trust Indian customers place in Mercedes-Benz as the most desirable luxury brand. The consistent demand, even in challenging market conditions, emphasizes the strength of our product offerings and the world-class retail experiences we provide. We are committed to offering sustainable, zero-emission vehicles that meet the aspirations of our discerning customers, ensuring a brighter, greener future for luxury mobility in India.”
