Mercedes-Benz achieves highest-ever sales in India

Mercedes-Benz on Thursday reported its best-ever January-December 2024 sales in its 30 years operations in India. The German carmaker’s battery electric vehicles (BEV) portfolio grew significantly by 94% year-on-year, taking EV penetration in the carmaker’s portfolio to more than 6% in 2024.

Mercedes-Benz sold 19,565 units in 2024, up 12.4% compared with 17,408 units sold in 2023. Sales growth in the second half of the calendar year was at a higher 16% even as it faced continued market challenges and macro-economic headwinds.

Sales of top-end vehicles, cars costing upwards of ₹1.5 crore, grew fastest with 30% growth. One out of 4 Mercedes-Benz sold in India in 2024, was a TEV.

The automaker also launched two new EVs today – G580 and EQS SUV 450. “These cars further strengthen the electric portfolio of the company and now offers an electric car to cater to every individual’s need,” it says in a statement.

Mercedes-Benz plans to launch 8 new models in 2025 with majority focused on BEV & TEV. The automaker plans to increased luxury network reach in 2025 with 20 new luxury outlets planned in 2025. Over ₹450 crore investment in three years has been committed by franchise partners, the German auto major says.

Of the 200,000 Mercedes-Benz sold since 1994; 100,000 cars were sold in the last 6 years alone (2019- 2024). Though the first 50,000 cars took 20 years (1994-2013), the next 50,000 were sold in 5 years from 2014-2018. In the last decade (2014-2024), Mercedes-Benz sold 150,000 new Mercedes-Benz cars, underling the growing affluence and aspirations of Indian customers.

“With the average age of Mercedes-Benz customers getting younger, there are more salaried customers than before, choosing to have more flexibility with financing options. This trend leads to higher acceptance of STAR Agility, as every second car financed by MBFS is financed under STAR Agility,” the luxury carmaker says.

"Mercedes-Benz’s best-ever sales performance in its history in India, underscores it’s unparalleled desire in the Indian market…We are confident of consolidating the market gains and continue this growth in 2025, retaining customer’s trust and loyalty. Along with our franchise partners, we continue the luxury transformation of our existing network, as we explore new emerging markets having future growth potential,” says Santosh Iyer, managing director and CEO, Mercedes-Benz India.

On Tuesday, BMW Group India achieved its best-ever annual car deliveries with 11% growth. The company delivered 15,721 cars (BMW and MINI) and 8,301 motorcycles (BMW Motorrad) between January – December 2024. BMW sold 15,012 units and MINI 709 units.