Hyderabad: There has been a noticeable increase in the number of young buyers of luxury cars in India with women accounting for 15 percent buyers of Mercedes-Benz cars, a top official of the car maker said.
Santosh Iyer, Managing Director and CEO of Mercedes-Benz India, while speaking at an event in Hyderabad on Friday, revealed that 15% of those purchasing Mercedes-Benz cars are women. Iyer also stated that the company is aiming for double-digit growth in sales this year. In the first half of 2024 alone, 9,262 cars were sold, marking a 9% increase compared to the same period last year, he said.
Among the 11 models launched by Mercedes-Benz this year, three are electric vehicles (EVs), with a new model set to be launched next month. The share of electric cars in total sales has grown from 2.5% last year to 5% in 2024. Iyer also highlighted that Mercedes-Benz has made significant investments in India, with a total investment of Rs 3,000 crores, including Rs 200 crores spent this year for technology development. He emphasized that 95% of the cars sold in India are manufactured domestically, and the recently introduced EQS SUV 580 4Matic is also made in the country. Locally manufactured cars cost less compared to completely built units (CBUs).
Telangana’s Share in Sales
Iyer noted that there is strong demand for Mercedes-Benz cars in Telangana, contributing to 8-9% of the company's total sales, while Andhra Pradesh accounts for 1%.
Country's First Maybach Lounge Coming Up In Hyderabad
Iyer also mentioned plans to open India’s first Maybach lounge in Hyderabad, offering a luxurious experience for buyers of the brand's most expensive models. In addition, Mercedes-Benz is setting up its largest service station in the region, with plans to establish a second one as well, he added.
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