Mercedes-Benz India has garnered a 48 per cent market share in the luxury segment that comprised around 37,000-38,000 units in CY22.
The company clocked its ‘best ever fiscal year’ for FY 2022-23 with sales of 16,497 units, a growth of 37 per cent over FY 2021-22 when it sold 12,071 units.
It sold 4,696 units in the first quarter of calendar year 2023, posting a growth of 17 per cent over 4,022 units sold a year ago.
The company’s sales are increasingly coming from its Top End Vehicles (TEV)s priced above Rs 1.2 crore, which posted a growth of 107 per cent in Q1, 2023. These include the GLS, the S-Class, EQS and AMG.
The core portfolio of the C Class and E-Class Long Wheel Base also grew 27 per cent.
“The structure of the luxury market is changing. There is a very strong demand for our top end vehicles such as the Maybach, S-Class, AMGs. Today, 22 per cent of our total sales is from TEVs. In fact, last quarter, the contribution rose to 30 per cent,” said Santosh Iyer, CEO and Managing Director, MBIL at the launch of the Mercedes-AMG GT 63 S E Performance at the Buddh International Circuit today.
The company launched the Mercedes-AMG GT 63 S E Performance, the first performance hybrid. It will retail from Rs 3.3 crore. The company, however, said it does not propose to bring hybrids to India, saying: “Hybrids in India does not attract any tax benefits and do not yield significantly lower emissions,” said Iyer.
Audi to raise prices
German auto maker Audi on Tuesday said it will increase the price of Q3 and Q3 Sportback by up to 1.6 per cent with effect from May 1, in order to offset the impact of increase in customs duty and input costs.
The company has already increased the price of Q8 Celebration, RS5 and S5 by up to 2.4 per cent with effect from April 1.