Santosh Iyer, the Managing Director and CEO of Mercedes-Benz India, declared that 2022 was the most successful year for the company in 28 years. Last year, the German carmaker sold 15,822 units, 3,500 cars priced in excess of Rs 1 crore, and still has a backlog of around 6,000 cars.
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Mercedes-Benz India saw a record high in 2018 with sales of 15,583 units, but in 2021 they sold 11,242 units. According to the newly appointed CEO, the highest growth was seen in the TEV (top-end vehicle) segment, with a 69% increase.
Source: Google, Mercedes-Benz
Iyer stated that Mercedes-Benz anticipates around 25 percent of its sales in India to be electric vehicles in the next three years, and that they have the largest luxury EV charging network in the country.
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On Friday, Mercedes-Benz India unveiled its ‘AMG E53 4MATIC+ Cabriolet’, which has an ex-showroom price tag of Rs 1.3 crore. The company’s portfolio of top-end cars, among which are the S-Class Maybach, the GLS Maybach, and the high-end AMG models, the S-Class and the GLS SUV, all cost more than Rs 1 crore (ex-showroom).
Source: Mercedes-Benz AMG E53 4MATIC+ Cabriolet
Iyer explained that the company is taking steps to reduce wait times to approximately 6 months, previously up to 9 months. He also observed a notable change in the demographics of buyers, noting that “there are more female customers buying Mercedes-Benz cars, and the average age of an S Class buyer has dropped to 38 years, and for C Class buyers, it is 35. Additionally, people from the salaried class are increasingly purchasing these vehicles.”
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The CEO predicted that the supply chain obstacles are expected to persist in 2023 as a result of the energy shortage, pandemic restrictions and military setbacks.
Mercedes-Benz Maybach S-Class
He additionally declared that introducing more items into the TEV fragment will be a piece of the organization’s “six segments” system for 2023. The organization is expecting an overall twofold digit deals development this year, and as a major aspect of the push additionally arrangements to dispatch ten new vehicles in India in 2023, with the larger part being in the more than Rs 1 crore value section.
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Iyer emphasized the importance of broadening the TEV range as part of the strategy. He further noted, “We expanded by 69 per cent and we will be introducing additional models. We sold more than 3,500 vehicles in the high-end segment of one crore or more in 2022.”
Iyer stressed the significance of extending the TEV range as part of their plan. Additionally, he stated, “We increased by 69 percent and we will be bringing out more models. In 2022, we sold more than 3,500 vehicles in the high-end price category of one crore and above.”
Mercedes-Benz GLS Maybach
Last year, our online platform sold 2,000 cars. As of now, customers have access to cars that will be produced over the course of the next year, which is an improvement from before when they could only see what would be available in the next three months, according to Iyer.
Mercedes-Benz India intends to be a pioneer in the electric vehicle industry, and is planning to broaden its current selection of models such as the EQC, EQB, EQS 53 AMG, and EQS 580 with additional EVs.
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Iyer emphasized sustainability in the 2023 strategy, noting that they have already reached 100% green energy for their Chakan facility. Additionally, they are striving for a paperless workplace by 2023 and are encouraging their franchisee partner network to join in. The goal is for one-third to be running on sustainable energy by 2025.
The company is also reinforcing its supply chain as it increases production, which is currently “operating on two shifts and in some areas we are running three shifts”.
Iyer mentioned that he wishes for policy constancy and the maintenance of GST advantages for electric vehicles for a period of 5 to 10 years. He further stated that India has one of the most stringent regulatory frameworks related to electric vehicles, certification or the Corporate Average Fuel Economy II criteria.
Iyer mentioned that they are expecting to have a profitable and sustainable growth going into 2023, with a goal of achieving a double-digit growth. He emphasized that having a stable growth rate allows them to make more investments and thus, it is important for them to prioritize profitable and resilient growth.