Mercedes-Benz India's first-quarter sales hit record high on strong demand for top-end models, EVs
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German luxury carmaker Mercedes-Benz said its first-quarter sales in India hit an all-time high, rising 10% to 4,238 units, on strong demand for its high-end models and electric vehicles (EVs).Demand for luxury models in India, the world's third-largest car market, has steadily risen over the last few years as rapid economic growth brought about a fundamental shift in attitude towards luxury purchases among its younger generation.Luxury car sales account for a little over 1% of India's 4 million units-a-year market."Our sharp focus on bolstering the top-end luxury (segment) has been highly successful in influencing customer preferences," Mercedes-Benz India CEO Santosh Iyer said.Sales of top-end models, like the S-Class and the Mercedes-Maybach portfolio , rose 20% between April and June, while EV sales jumped than two-fold to form 8% of Mercedes-Benz India's overall sales. Mercedes ' core segment, which includes the C- and E-Class sedans and the GLC and GLE sports utility vehicles, grew 10% in the quarter. These cars account for 60% of the company's total sales in India.Mercedes leads sales of luxury vehicles in India, followed by BMW and Tata Motors-owned Jaguar Land Rover (JLR). It produces and assembles a handful of models, including some EVs, from its Chakan factory in the western state of Maharashtra.
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