Mercedes-Benz India records record sales of 4,697 units in the March quarter

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German luxury car maker Mercedes-Benz reported record sales on Tuesday in India with 4,697 units in the first quarter of 2023, a growth of 17 percent over the same period last year, with the top vehicles priced over Rs 1 crore seeing accelerated growth. Mercedes Benz Indiawhich had sold 4,022 units in the same quarter last year, launched its hybrid AMGGT 63 SE Performance model priced from Rs 3.3 crore (ex-showroom Delhi) as part of its strategy to accelerate sales of top-of-the-range vehicles (TEVs).

For the fiscal year ended March 31, 2022, the company posted its highest-ever sales of 16,497 units versus 12,071 units in 2021-22, a growth of 37 percent.

“Overall, our growth story continues with a record quarter and fiscal year…Double-digit growth continues for us in 2023,” Mercedes-Benz India Managing Director & CEO Santosh Iyer told PTI.

He said, “Looking at the composition, the top vehicles (TEVs) in the first quarter showed over 100 percent growth at 107 percent … So the juggernaut with the top vehicles continues in quarter one as well.”

Mercedes-Benz India TEVs include the S-Class Maybach, GLS Maybachtop-of-the-line AMGs, S-Class and GLS SUV, costing more than Rs 1 crore (ex-showroom).

The company, which posted record sales of 15,822 units in 2022, had sold more than 3,500 TEVs, a growth of 69 percent.

“We as a brand are strongly focused in India and globally to grow the TEV segment. The India strategy is only resonating further,” Iyer said, adding that the company’s TEV sales growth also has a “clear reflects the evolving luxury car market in India”.

Earlier, he said that the composition of the luxury market used to be dominated by entry-level luxury cars, but “has changed, at least for us”.

Also for electric vehicles, he said: “It reflects the changing profile of customers. They now prefer to combine sustainability and luxury at the highest level. This also clearly shows the changing profile of Indian consumers.”

In line with its strategy to accelerate TEV sales growth, the company on Tuesday launched its hybrid AMG GT 63 SE Performance model, the most powerful Mercedes-AMG production car. It uses technology that has already been tested in Formula 1 racing.

It is powered by a combination of a 4.0-litre V8 biturbo engine and an electric motor that produces 843 hp and is capable of accelerating from 0-100 km/h in 2.9 seconds.

Iyer said all Mercedes-AMG GT 63 SE Performance customers will receive key handover from multiple Formula 1 world champion Lewis Hamilton.

On the current demand situation, Iyer said Mercedes-Benz India currently has an order backlog of more than 4,000 cars.

“The backlog situation remains strong. Our focus is on delivering it and that’s the reason for our best quarter ever and also best fiscal ever. It’s not just taking bookings and waiting, but we’re in stands for a significantly high number of cars,” he added.

Asked about the new product launch plan, after pushing back some of the planned launches for Q1 2023 to Q2 and Q3, he said: “Right now we’re launching one car. This quarter our idea is to have an additional one or two cars if possible. Our launch continues. We remain committed to the 10 launches for this year.”

To avoid a long wait, the company is increasing parts and component availability to start producing more cars by working with its supply chain to optimize parts availability as much as possible.

Mercedes-Benz India already said it has reduced waiting time for its models.

Current waiting times for A-Class, C-Class and E-Class models are zero to three months, while those for GLE, GLS and S-Class are two to six months.

For the company’s electric vehicles, the wait is currently two to six months, while G-Wagon and GLS Maybach’s is between 8 and 16 months, it added.

On the growth outlook for the fiscal year, Iyer said the company is confident of delivering double-digit growth.

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