Mercedes-Benz sustains its growth momentum in India amidst market challenges; paves way for a successful 2018
- Strong customer preference for the brand with the Three Pointed Star continues in the Indian market
- Clocks the best ever Q1: 4556 units sold in January to March 2018 period (Q1 2017: 3650, +24.8%)
- Best ever fiscal for Mercedes-Benz with a growth of 22.5% at 16,236 units delivered (FY 2016-17: 13,259)
- The SUV portfolio led by the GLC spearheaded the SUV growth, registering double digit growth in Q1 2018, compared to same period last year
- High demand for the all-new Long Wheelbase E-Class continues across markets
- Mercedes-Benz will launch 10 new products in 2018 to continue its product offensive
Pune: India’s largest luxury carmaker Mercedes-Benz today announced its best ever Q1 and fiscal sales amidst challenging market conditions. The company recorded its best Q1 by selling 4556 units in the January-March 2018 period, supported by the strong sales momentum in the sedan and SUV segment. The steady sales performance in Q1 2018, firmly underscores the continuous customer preference for a Mercedes-Benz vehicle in the Indian market, which is a result of a highly focused customer centric approach implemented by the brand.
Mercedes-Benz luxury SUV portfolio comprising the GLA, GLC, GLE, GLC Coupe, GLE Coupe and the GLS grew in double digits Q1 2017. The comprehensive SUV portfolio continued to drive growth for Mercedes-Benz as it reiterated its increasing popularity among the Indian customers. While the growth in the SUV portfolio was primarily led by the GLC, which emerged as the highest selling SUV, the bigger GLE, GLE Coupe and the GLS also witnessed strong customer preference in the January-March 2018 period. The luxury sedan segment comprising the C-Class, E-Class and the S-Class performed very well. The all-new Long Wheelbase E-Class continued its sales momentum and sustained the customer interest across markets and supported the growth of the sedan portfolio. The E-Class’ success was closely matched by that of the C-Class Sedan, which remained an important volume contributor in Q1 2018. Apart from the sedans, the New Generation Cars continued to attract younger customers to the brand, while the AMG and Dream Cars portfolio made the fascination for the brand more visible than before.
Roland Folger, Managing Director & CEO, Mercedes-Benz India commented, “2018 began with a positive note for the brand, though the spike in Q1 sales can be attributed to the advancement of sales due to the impending price correction, triggered primarily by the increase in basic custom’s duty. It might be a challenge to sustain this momentum in the coming quarters and we are cautiously optimistic. As the luxury industry volumes are comparatively low, the focus should remain on helping the industry grow by creating demand. A rise in demand would translate in increased production and thus, lead to significant revenue generation, and would support the ‘Make in India’ initiative.”
Mr. Folger added, “We are extremely excited to witness the strong performance of our mainstay models, the C-, E-, S-Class and the SUVs. Particularly the success of the Long Wheelbase E-Class underlines the aptness of our decision to launch the car in India. We will continue with our product offensive and introduce a host of new products across segments and body shapes, to keep the consumer’s interest. Qualitative expansion in our network spread, coupled with service differentiation driven by our cost of ownership measures and availability of tailor made financial programmes, will continue to add value to our efforts of creating delightful customer experience. It is assuring to witness growth across the portfolio which reiterates that luxury car buyers’ in India continues to appreciate our ‘Best Keeps Leading’ initiatives.”
(All figures of Mercedes-Benz India are that of retail sales.)