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Mercedes-Benz India retailed 9,262 units of cars and SUVs in the first half of 2024, thereby recording its best-ever half-yearly sales in the country; this also gave the company its best-ever Q2 sales performance. The German carmaker firmly maintains its lead in the luxury segment with BMW coming in second having sold 7,089 cars in H1 2024; Audi was third with 1,431 units sold in the same period.
- SUVs contributed to majority of sales with 55 percent share
- Mercedes recorded 9 percent year-on-year growth in H1 2024
- To launch 6 more vehicles in the remainder of 2024
Mercedes-Benz India half-yearly sales split
Mercedes-Benz hasn’t provided an exact sales split of individual models, but has said that SUVs made up the majority of the sales with 55 percent share. The brand claims it has witnessed robust demand across all the entry-level, core and top-end segments, with the Maybach range growing the highest at 108 percent in H1 of 2024. Overall, 25 percent of all sales have come from the top-end vehicle segment.
Mercedes’ electric vehicles, meanwhile, made up 5 percent of total H1 sales, and recorded 60 percent year-on-year growth compared to H1 2023. This also means Mercedes has sold the highest number of EVs in the luxury segment in the H1 of 2024; for reference, the BMW Group (BMW and Mini) has sold 397 units of EVs in the same period. With the launch of the new EQA and the updated EQB, Mercedes now has four EVs in its portfolio in India; it plans to have 6 by the end of 2024.
On the whole, the brand recorded a 9 percent year-on-year growth having sold 8,528 vehicles in H1 2023. The carmaker has lined up 6 more launches for the remainder of 2024.
Mercedes-Benz on track for double digit annual growth
Mercedes-Benz India is confident of ending the year with record sales. The company has had “an excellent first half” and is on track for double-digit growth, its CEO and MD, Santosh Iyer, told our sister publication, Autocar Professional.
The company’s best-selling car, the E Class, is in a run-out phase and its new-generation model would come in only towards the year-end. Yet, the company is confident of growing at a healthy pace.
Never mind that the second quarter that ended in June was a “bit slower”. That was expected because of elections, said Iyer. “Generally, the season has been low, so it’s not a surprise.” What’s also driving the optimism is that the inquiry levels have not dropped. “There is still a lot of interest. Customers in our segment are travelling. Once they are back, along with the wedding and festive season, we should see this demand going in.”
Much like the mainstream car market, the entry-level luxury segment witnessed a softening in demand in Q2, leading to discounts in the market. “We won’t participate [in discounts] for sure. I think it’s also more of a seasonal impact, coupled with elections and other issues. But when I talk about my core or top-end segment, we see fantastic growth even in Q2,” added Iyer.
WITH INPUTS FROM KETAN THAKKAR
Also See:
Audi India Q2 sales fall 6 percent year on year to 1,431 units
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