Mercedes-Benz India has announced its highest-ever annual sales figures, delivering 19,565 vehicles in 2024, marking a robust 12.4% year-on-year growth compared to 17,408 units in 2023. The strong sales growth was driven by consistent demand across its entry-level, core, and top-end vehicle (TEV) segments. TEVs, including ultra-luxurious models like the Mercedes-Maybach S-Class and GLS SUV, accounted for one out of every four Mercedes-Benz cars sold in India, witnessing a 30% year-to-date (YTD) growth.
Battery electric vehicles (BEVs) also played a significant role in Mercedes-Benz India’s success, with sales increasing by an impressive 94% in 2024. BEVs now contribute more than 6% to the company’s overall sales. Key contributors included models such as the ‘Made-in-India’ EQS SUV 580 and the Mercedes-Maybach EQS SUV. The introduction of four new BEVs in 2024, including the EQA 250+ and EQB SUV, further enhanced the brand’s electric vehicle portfolio.
Mercedes-Benz’s strategic focus on customer-centric initiatives, innovative products, and an expanding retail network helped it navigate macroeconomic challenges in 2024. The company introduced 14 new models during the year, including nine top-end vehicles. Its direct-to-customer business model and an increased luxury network presence contributed to improved customer experiences.
Santosh Iyer, Managing Director and CEO, Mercedes-Benz India, stated “Our record sales in 2024 reflect the aspirations of Indian customers and our ability to meet their evolving preferences with cutting-edge products and services. As we enter 2025, we aim to consolidate these gains with continued investments in electrification, luxury experiences, and community development.”
Looking ahead to 2025, Mercedes-Benz plans to launch eight new models, with a significant focus on top-end vehicles and BEVs. The company also intends to expand its retail presence with 20 new luxury outlets across emerging markets such as Agra, Kanpur, and Jammu. Franchise partners are expected to invest over INR 450 crore in these initiatives.
The year 2024 also marked the milestone of selling 200,000 Mercedes-Benz vehicles in India since 1994, with the last 100,000 units delivered in just six years. This achievement underscores the growing affluence and aspirations of Indian consumers in the luxury car segment.
Mercedes-Benz India’s financial services division also reported significant milestones, crossing INR 10,000 crore in its portfolio and financing one out of every two cars sold. The division recorded an 80% penetration in insurance offerings, driven by streamlined processes and flexible financing options like STAR Agility.
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