admin
Last Updated:
In an interaction with media, Mercedes-Benz India MD and CEO Santosh Iyer said that the overall domestic luxury car market growth is pegged at around 4-5 per cent year on year.
Mercedes-Benz G-Class Electric. (Photo: CarDekho)
New Delhi, Aug 12: Mercedes-Benz India on Tuesday said its top-end model range continues to drive growth for the automaker amid a volatile business environment.
In an interaction with PTI, Mercedes-Benz India MD and CEO Santosh Iyer said that the overall domestic luxury car market growth is pegged at around 4-5 per cent year on year.
He noted that demand is flattish as compared to last year for the industry.
“Considering all the geopolitical developments happening around us, the growth may not be there as much as what we have seen in the previous years, but it is still there,” Iyer stated.
For Mercedes, the top end vehicle and core segments continue to grow while the entry level vertical has de-grown, he noted.
“With eight launches in 2025, our top-end luxury vehicle strategy has been very successful, garnering immense customer response and elevating the desirability of Mercedes-Benz in the market,” Iyer said.
“So yes, we are not seeing that double-digit kind of growth momentum that we saw in the previous year, but still, flattish to single-digit growth is there,” he added.
He noted that while there are some headwinds, the industry is also witnessing some tailwinds, which augur well for the growth in the coming quarters.
Iyer cited GDP growth projections and record GST collections this year as some of the positive factors.
“Obviously, macros are strong and they should not affect the fundamental position. But yeah, it’s a volatile market, for sure,” he added.
The German Luxury carmaker on Tuesday launched AMG CLE 53 4MATIC+ Coupe priced at Rs at 1.35 crore (ex-showroom, India).
(This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI)
Shahrukh Shah, Sub-Editor at News18, loves to write about everything that moves on wheels. With years of experience and the required skill sets, he is contributing to the auto section, where he let people know …Read More
Shahrukh Shah, Sub-Editor at News18, loves to write about everything that moves on wheels. With years of experience and the required skill sets, he is contributing to the auto section, where he let people know … Read More
view comments
Read More
