Mercedes-Benz India clocks highest ever H1, Q2 sales

Luxury carmaker Mercedes-Benz India today announced its highest-ever sales performance in the first half of 2023 and during the April-June quarter. The company continued its strong sales momentum and retailed a record 8,528 units in the January-June 2023 period, registering a 13% year-on-year growth.

The sustained demand for both new and existing products across entry and core segments was the key to driving volumes in H1 2023, the luxury carmaker says.

However, the demand for high-end Mercedes-Benz and AMG models belonging to the top-end vehicles (TEV) segment continued to outpace other segments, growing by a robust 53% YoY in H1 2023. Mercedes-Benz's battery electric vehicle (BEV) portfolio grew 10 times in the first six months of 2023, with the introduction of the EQB and EQS luxury BEVs.

Mercedes-Benz says the highest ever six monthly sales were driven by the luxury carmaker's strong product portfolio and an omnichannel customer journey experience created with the 'Retail of the Future' business model.

"Mercedes-Benz continues its strong demand in the Indian market, achieving the best ever H1 and Q2 sales. This record sales performance is driven by high desirability of the brand, an attractive portfolio, increased availability of cars and successful implementation of the ‘Retail of the Future’ business model," says Santosh Iyer, managing director and CEO, Mercedes-Benz India.

“Our focus remains on elevating the customer experience and continuing to grow the top-end vehicles that outpace other segments. We are excited about the remaining quarters, having lined up some of the most awaited luxury vehicles for our customers, starting with the New Generation GLC,” Iyer adds.

India’s domestic automobile segment produced 2.7 crore vehicles in FY23, according to Primus Partners. Of this, four-wheeler passenger vehicles generated the highest revenue share of 57%, which contributed to the ₹8.71 lakh crore generated by the automobile industry. The passenger vehicle segment produced ₹5 lakh crore in terms of value and accounted for 16% of the volume. The luxury segment produced 1.6 lakh units and contributed to ₹63,000 crore in value, thus representing 13% of the value share.

According to the Federation of Automobile Dealers Association (FADA), auto retail sales in June 2023 showed a 10% year-on-year growth, exhibiting positive performances across all vehicle categories including 2-wheelers, 3-wheelers, passenger vehicles, tractors, and commercial vehicles growing at 7%, 75%, 5%, 41%, and 0.5%, respectively. The passenger vehicle segment navigated through a mixed landscape, characterised by variable demand, dynamic product portfolios, and oscillating market sentiments, says the dealers’ lobby.