Record-Breaking Sales Performance for Mercedes-Benz in India’s FY24

In a landmark achievement for the iconic German automaker, Mercedes-Benz announced a record-breaking retail sales performance in India for the financial year 2023-24. This historic milestone was largely propelled by a robust demand for its SUV product line. The prestigious brand, synonymous with luxury and innovation, has reported that a remarkable total of 18,123 vehicles were sold throughout the last fiscal year. This represents a significant 10% increase from the previous year’s sales, which stood at 16,497 units.

With an evident sense of pride and satisfaction, Mercedes-Benz India’s Managing Director and CEO, Santosh Iyer, shared in a statement, “We achieved the best-ever month, highest-ever quarter and best-ever fiscal in India. This trust reflects in the unmatched desirability for Mercedes-Benz in India, resulting in an overwhelming customer response.” The surge in sales underpins the automaker’s stronghold in the Indian luxury car market and affirms the brand’s appeal amongst the country’s affluent consumers.

The first quarter of the year already set the tone for this record performance, with sales figures reaching 5,412 units, marking a 15% increase compared to the first quarter of the preceding year, when 4,697 units were sold. These numbers not only signify consumer confidence in the brand but also showcase the effectiveness of Mercedes-Benz’s diversified and innovative product strategy.

Looking forward to sustaining this growth, the automaker has unveiled plans to launch nine new models in India over the course of the year, which will include three new battery electric vehicles (BEVs), further solidifying its commitment to sustainable mobility solutions. This initiative is part of a broader strategy to cater to the evolving preferences of environmentally conscious consumers, who are progressively gravitating towards electric vehicles.

Excitement is particularly high as Mercedes-Benz vows to strengthen its illustrious AMG performance range with the upcoming launches of the AMG S 63 e-Performance sedan and the AMG C 63 e-Performance. These additions are expected to entice performance car enthusiasts and are scheduled to be rolled out in the second quarter of the calendar year.

The automaker is also set to expand its physical footprint with the inauguration of two new luxury MAR 20X outlets. These exclusive outlets will be situated in the major customer hubs of New Delhi and Mumbai, with their doors slated to open in April 2024. These boutique-style urban showrooms will complement the seller’s image and are designed to provide an unsurpassed luxury brand experience to customers.

Further deepening its presence across the country, Mercedes-Benz intends to establish 20 New MAR 20X luxury workshops. These state-of-the-art facilities are planned to be spread across 10 new cities throughout the year, signifying a massive expansion drive that aims to enhance customer service and satisfaction.

This significant growth in sales and the accelerated expansion activities underscore Mercedes-Benz’s commitment to the Indian market. The strategic moves are indicative of not just the company’s ambitions to reinforce its position as a leader in India’s luxury automotive segment, but also its adaptability in a dynamic and increasingly competitive luxury car landscape.

It goes without saying that Mercedes-Benz’s operational strides and record retail sales in India create a clear image of a forward-thinking enterprise. One that is successfully aligning its global reputation for craftsmanship and luxury with the aspirational needs and environmental considerations of Indian consumers—fueling a journey of unprecedented success in one of the world’s most promising automotive markets.