Mercedes-Benz India, the luxury vehicle market leader, today announced that it has sold 3,885 units in January-March 2019 period, down 14.7 percent year on year (January-March 2018: 4,556). The first three months of 2019 have seen the luxury car industry face strong macro-economic headwinds in the form of rising interest rates, inflationary hikes, liquidity crunch, rising import costs.
Commenting on the sales numbers, Martin Schwenk, MD and CEO, Mercedes-Benz India, said, “We are satisfied with our sustained sales performance despite facing strong macroeconomic headwinds. Mercedes-Benz however is excited to retain its customers’ loyalty and sustain the market leadership. We remain bullish on the mid- to long-term prospect of the dynamic Indian market, which we believe has immense potential to grow.”
“In our 25th year in India, we will continue to invest in new products and technologies, in retail network and digitisation, to keep ourselves future ready for the foreseeable transition in the automotive segment. With some of the most exciting product introductions, novel customer-oriented initiatives, market expansion and digitization efforts lined up in the second half of the year, we are confident of keeping our customers and brand enthusiasts delighted.”
The volume drivers for Mercedes-Benz India in the January-March period 2019 remained the Long Wheelbase E-Class sedan, along with the new C-Class and the GLC SUV. The V-Class luxury MPV continues its sales success and has a waiting period in most markets. The AMG and the ‘Dream Cars’ segment however remained the highest growing segment for Mercedes-Benz in Q1 2019, with more than 50 percent growth compared to Q1 2018.
In Q1 2019, BMW Group India sold 2,982 cars (BMW + Mini) registering a year-on-year growth of 19 percent as compared to Q1 2018. This was the carmaker’s highest-ever sales in the first quarter of a year. These results come on the back on a strong performance in CY2018, when BMW Group India sold 11,105 vehicles (including Mini), registering 13 percent year-on-year growth.
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