Mercedes-Benz India Achieves Record H1CY24 Sales, Sees Continued Growth Ahead

T Murrali
08 Jul 2024
02:49 PM
2 Min Read

As Mercedes-Benz India gears up for the festive season, the company is poised to maintain its momentum, fueled by a strong product lineup and a commitment to delivering exceptional customer experiences.

Mercedes-Benz India

Mercedes-Benz India has announced its best-ever first-half sales performance, driven by new and updated products, an elevated customer experience at retail, and ease of ownership.

Managing Director & CEO of the company Santosh Iyer attributes the significant performance to positive customer sentiments and anticipates continued growth through the upcoming festive season.

Record Sales

The automaker recorded its highest-ever first-half sales with 9,262 units sold in H1CY24, a 9% increase from the 8,528 units sold in H1CY23. This achievement marks the company's best six-monthly sales performance, fueled by a robust lineup of new and existing products, availability of volume models, and an exceptional customer experience at the retail level.

Sustained Demand Across Segments

The sustained demand for Mercedes-Benz vehicles spanned across entry, core, and Top-End Vehicle (TEV) segments. The SUV segment continued to dominate customer preference, accounting for 55% of overall sales. Key models such as the GLA, GLC, GLE, and GLS SUVs played a significant role in this success. Additionally, the sedan portfolio, including the A-Class, C-Class, outgoing LWB E-Class, and S-Class, remained popular among luxury sedan buyers.

Mercedes-Benz India
Santhosh Iyer

Iyer said, “The demand from our portfolio right from the GLA to the GLC to the GLS and Maybach has been extremely positive. In fact, the waiting periods range from two months to one year for some of these SUV's for top-end vehicles. Also, they continue to get a lot of customer preference. In first half of this year, 25% of all our cars that we sold were top end cars. This shows the growing maturity of the Indian luxury car market in India; customers preferring for the top of the line luxury cars which are highly exclusive and also highly desirable.

TEV, Electric Vehicles

The company witnessed robust demand for its TEV portfolio, with the Maybach range growing the highest at 108% in H1CY24. The TEV segment, which comprises 25% of total sales, saw strong demand driven by the Maybach portfolio. Meanwhile, the company’s Battery Electric Vehicle (BEV) portfolio also gained traction, growing by 60% year-over-year in H1CY24 and accounting for 5% of total sales volumes.


Looking ahead, Iyer expressed optimism about the continued growth in the remaining quarters. 'Our product launches will continue in H2CY24 with some of the most exciting new models coming in the next few months. From the high-end AMGs to the exclusive Maybach, we have many exciting cars making their India debut. Additionally, the long-awaited, long-wheelbase new E-Class is readying for its debut at the end of this year,' he said.

“Regarding battery electric vehicles, our focus remains strong. We have six new launches planned for this year, with three scheduled for the second half. These three will be battery electric cars, effectively doubling our current portfolio from three to six by the end of the year,” he added.

As Mercedes-Benz India gears up for the festive season, the company is poised to maintain its momentum, fueled by a strong product lineup with an aim to delivering exceptional customer experiences.

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Mercedes-Benz R&D India, BITS Pilani Sign Five-Year Research Agreement

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