Mercedes-Benz India achieves record sales of 19,565 units in 2024
What's the story
Mercedes-Benz India has recorded its highest-ever annual sales since it started operations in the country three decades ago.
The luxury carmaker delivered a total of 19,565 cars in 2024, achieving a remarkable year-on-year (YoY) growth of 12.4%, as announced by CEO Santosh Iyer today.
The first half of the year witnessed 9% growth in the luxury car market, with Mercedes-Benz beating the trend by quite a margin.
Market performance
It outperformed market in H2 2024
In the second half of 2024, Mercedes-Benz far outpaced the overall luxury car market. While the market grew by 3%, Mercedes-Benz grew by a whopping 16%.
Iyer credited this stellar performance to an expanded battery electric vehicle (BEV) portfolio, increased localization efforts, and the launch of a new E-Class model.
Segment growth
Top-end vehicle segment sees significant sales
Mercedes-Benz's top-end vehicle (TEV) segment, comprising its most luxurious and high-end models, witnessed phenomenal growth in 2024.
The segment contributed to one out of every four Mercedes-Benz cars sold in India, recording a sales growth of 30% between January and December.
The company also launched 14 new products during the year, including nine high-end models that greatly enhanced customer interest and led to this performance.
Electric surge
BEV portfolio contributes to growth
Mercedes-Benz's battery electric vehicle (BEV) portfolio played a major role in its growth in 2024.
Sales from this segment witnessed an impressive 94% YoY growth, making up over 6% of the company's total sales during the year.
To further enhance its EV portfolio, Mercedes-Benz introduced four new models: the EQA 250+, the five-seater EQB SUV, the locally manufactured EQS SUV 580, and the ultra-luxurious Mercedes-Maybach EQS SUV.
Expansion strategy
Mercedes-Benz India's future plans for 2025
Looking ahead, Mercedes-Benz India has planned eight new car launches for 2025, including a few facelifts and new battery electric vehicles (BEVs).
The company also plans to expand its presence in 2025 by adding 20 new luxury touchpoints in key markets such as Agra, Kanpur, Jammu, and Patna.
Over the next three years, franchise partners of the company plan to invest over ₹450 crore to upgrade facilities.