By Mercedes Benz completed 30 years in the Indian market as the German manufacturer is one of the first luxury manufacturers in the country. The sales of Mercedes Benz models have been really strong as they have completed the best financial year of the company yet. In FY 23-24, Mercedes Benz sold 18,123 units compared to 16,497 units in FY 22-23 which is an increase of 10 per cent. The first quarter of 2024 is also really good as Mercedes Benz has managed to sell 5412 units and posted 15 per cent Year-on-Year growth.
The German manufacturer was able to sell 2827 units in March 2024 which is the highest-ever monthly sales of the company in the Indian market. The entry-level models like the GLA and A-Class Limousine contributed to 15 per cent of the first quarter sales, which was expected. The core sales of the brand come from models like the C-Class, E-Class, GLC and GLE as these models contribute to 60 per cent of the overall sales of the company. Another segment which is thriving is the TEV (top-end vehicles), which is priced above Rs. 1.5 Crore.
This segment includes Maybach and AMG models, as they contribute to 25 per cent of overall sales. The German manufacturer is focusing on this segment as it can bring lots of value to the brand. Apart from ICE models, Mercedes Benz EV models contribute 6 per cent in the first quarter. When compared to the first quarter of last year, sales have increased by 130 per cent. The company is planning to expand the EV portfolio as three new models are likely to be launched this year.
