Sales increased 10 percent in 2023 compared to the previous year.
Mercedes-Benz has clocked its highest-ever annual sales in India during the calendar year 2023 with a growth of 10 percent in volumes on a year-on-year basis. The growth came on the back of a robust uptick in SUVs, sedans, and electric vehicles.
- Mercedes India sold 17,408 units in 2023; 15,822 units in 2022
- SUVs accounted for 55 percent of sales
- EVs contributed 4 percent to total sales
On the sidelines of the launch of the GLS facelift, Mercedes-Benz India announced that it had sold 17,408 units in 2023, against 15,822 units sold in 2022. SUVs accounted for 55 percent of the volume, buoyed by high demand for the newly launched GLC, GLE, and existing products like GLA and GLS. The sedan segment also remained strong with the A-Class, C-Class, E-Class and S-Class comprising 45 percent of sales.
“There is an immense desire for the Mercedes-Benz brand, driven by superior products, introduction of Top-End Vehicles (TEV), elevated customer experiences, and customised solutions developed specifically for the Indian market. All these have resulted in our ‘best year ever’ not only in terms of sales but also drastic improvement in customer satisfaction parameters,” MD and CEO, Santosh Iyer said.
The company noted that all three segments – entry, core, and top end – performed favourably throughout the year, and LWB E-Class remained the single highest-selling model in 2023. EV sales grew by three times during the year, contributing 4 percent of the total volume. Mercedes-Benz’s electric vehicle portfolio comprises the EQB SUV, EQE SUV and EQS sedan.
With the Indian economy rising and a growth seen in the number of high-net-worth individuals, the Indian luxury car market continued to outpace the mass market passenger vehicles last year, with a growth of 20 percent. Favourable changes in perception towards luxury cars and a growing economy are expected to keep driving the luxury market to new heights. Mercedes Benz has projected India’s luxury car market to double to over 80,000 units by 2030 from 2022.
Our sister publication, Autocar Professional, had earlier reported that Mercedes-Benz India had almost doubled its net profit during the financial year 2022-2023, crossing the USD 100 million mark (about Rs 841 crore) for the first time. A 65 percent jump in revenue on the back of 16,497 car sales drove strong profit growth.
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