Mercedes-Benz India Achieves Record Sales Amid Festive Boom
Mercedes-Benz India reported record sales in the July-September quarter, driven by a strong festive demand during Navaratri, despite challenges like rising operational costs. The luxury carmaker expects the buying trend to continue through upcoming festivities such as Dhanteras and Diwali, boosted by positive customer sentiment and GST reforms.
- Country:
- India
In a stellar performance, Mercedes-Benz India recorded its highest ever retail sales in the July-September quarter, thanks to a surge in demand during the festive Navaratri period. The luxury carmaker sold over 2,500 units in September alone, marking a 36% year-on-year growth.
Managing Director and CEO Santosh Iyer attributed this achievement to favorable GST reforms and a strong festive buying spirit. The company anticipates sustained demand in October, propelled by upcoming festivals like Dhanteras and Diwali, traditionally peak buying periods.
Despite macro-economic pressures such as costly forex movements, Mercedes-Benz India's emphasis on top-end luxury vehicles and electric cars played a crucial role in its Q2 success. However, entry-level luxury car sales faced a downturn amid costlier offerings, a challenge the automaker continues to navigate.
Google News