In fiscal year 2024, Mercedes-Benz sold 19,565 vehicles, a year-on-year increase of 12.39%, achieving double-digit growth
Mercedes-Benz may be celebrating as the luxury car brand has achieved its best-ever annual sales in India. This number has risen steadily in recent years, from 15,822 vehicles in 2022 to 17,408 vehicles in 2023 to 19,565 vehicles in 2024. Mercedes-Benz is India’s most popular luxury car brand, with 200,000 units sold since 1994.
Strong demand from all walks of life
Similar to trends seen in previous years, Mercedes-Benz has seen strong demand for its cars in the entry-level, core and premium vehicle (TEV) segments. The data also showed strong demand for both existing and new models. A total of 14 new products will be launched in 2024, including 9 high-end models.
In addition to its best-ever annual sales figures, the company also achieved its best-ever sales figures for any quarter in 2024. It reveals the brand’s continued focus on enhancing its product portfolio, improving service offerings and providing seamless financing options.
BEV sales increased by 94%, TEV sales increased by 30%
Mercedes-Benz regularly launches new fully electric vehicle models as part of its goal to reduce its carbon footprint. With advanced technology and state-of-the-art features, these pure electric vehicles have experienced strong demand in recent years. In 2024, Mercedes-Benz pure electric vehicle sales will increase by 94% year-on-year. Year-to-date sales improved significantly from January to December 2024, with penetration exceeding 6%. A total of 4 pure electric vehicles will be launched in 2024 – EQA 250+, 5-seater EQB SUV, “Made in India” EQS SUV 580 and the ultra-luxury Mercedes-Maybach EQS SUV. These play a key role in driving sales of pure electric vehicles.
Mercedes-Benz is currently the market leader in luxury fully electric vehicles. The brand ensures that its pure electric vehicle portfolio has ample options to meet the diverse needs and preferences of its customers. In the fourth quarter of 2024, the company’s pure electric vehicle sales increased by an impressive 110%. Starting in 2025, Mercedes-Benz is further expanding its portfolio of pure electric vehicles to include the “Made in India” 5-seater EQS 450 SUV and the iconic G-Class. These will further boost sales of pure electric vehicles and could increase sales in 2025.
Mercedes-Benz’s premium vehicle (TEV) range achieved double-digit year-on-year growth of 30% in 2024. One out of every four Mercedes-Benz cars sold in 2024 will be a TEV. Some of the best-selling TEVs include the Mercedes-Maybach S-Class, Mercedes-Maybach GLS SUV, and Mercedes-Maybach EQS 580.
More cars in 2025, focus on network expansion
Going forward, Mercedes-Benz will take steps to solidify its dominance in the luxury segment. As part of this strategy, the company plans to launch eight new vehicles in India by 2025. These include a variety of high-end cars and pure electric vehicles. One of the upcoming products is the Mercedes-Maybach EQS SUV ‘Night Series’, which will be launched at the Bharat Mobile Expo 2025.
To boost sales, Mercedes-Benz will also step up efforts to open new stores. It plans to open about 20 new luxury car touchpoints in 2025. The luxury carmaker also plans to enter new markets such as Kanpur, Agra, Patna and Jammu. For pure electric vehicle customers, the company will focus on expanding its charging network.
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