With an all-time high sales of 8,528 units, Mercedes Benz India has posted a year-on-year growth of 13 percent in the first half (Jan-June) of 2023.
As per reports, the growth was powered by the TEV (top-end vehicle) segment priced above Rs 1.5 crore in which the company sold no less than 2,000 units, a growth of 54 percent.
This growth becomes more significant because it has been achieved without one of its most popular models in the core luxury segment, the GLC SUV, whose second-gen model will be launched later in July.
"The 54 percent growth in the TEV segment is quite strong and that has been our focus. We also introduced five new products this year in the TEV segment. The focus on the segment and the customer base there really helps us to grow," Mercedes-Benz India Managing Director & CEO, Santosh Iyer told PTI.
“The growth in the TEV segment is despite the long waiting period, which ranges from 6 to 24 months,” he added.
The key highlights for Mercedes Benz in the first half of the year were that it continues to witness a very high demand for the GLS, S-Class, S-Class Maybach, GLS Maybach and AMG G 63 in particular. The LWB E-Class remained the single highest-selling model for the company, while the GLE was the bestselling SUV and the new C-Class continues to drive demand and contribute significant volumes to Mercedes Benz's overall performance.
The growth can also be attributed to the battery-electric vehicle sales growing 10 times albeit on a low base, with the addition of new models like the EQB and EQS.