Demand for Mercedes-Benz cars continues to be robust across entry-level, core and Top-End Vehicle (TEV) segments
It was a wonderful H1 for Mercedes-Benz, as the luxury carmaker delivered its best ever results in the January-June period. The company has also achieved its best-ever Q2 sales numbers in India. With the upcoming festive season, the sales momentum is expected to continue in H2 as well.
Mercedes-Benz Q2, H1 2024 sales – Maintains lead over BMW, Audi
Mercedes has maintained its No 1 status in India. In the earlier post, we discussed in detailed sales performance of BMW India and Audi India. In this post, let us take a look at the sales performance of Mercedes Benz India.
Coming back to Mercedes India, a total of 9,262 units were sold in H1, 2024. That’s a growth of 8.61%, as compared to 8,528 units sold in the corresponding period last year. This is the highest ever H1 sales recorded by Mercedes-Benz. A booming economy and rising consumer confidence is generating high demand for luxury cars in India. H1 2024 is the first time that Mercedes-Benz has crossed the 9k sales milestone in H1.
Data reveals that sales numbers have been continuously rising since 2022, after the effects of the pandemic had subsided. Sales in H1, 2022 and H1, 2023 were at 7,573 and 8,528 units, respectively. Q2 sales numbers are also the best ever, at 3,850 units. While the YoY gain is marginal at just 0.50%, it is still the best ever Q2 results for the company. In Q2, 2023, Mercedes-Benz had registered sales of 3,831 units.
Earlier, Mercedes-Benz had registered its highest ever Q1 sales. A total of 5,412 units were sold in the first quarter of CY2024. That marked an impressive double-digit growth of 15.22%, as compared to 4,697 units sold in the corresponding period last year. In the last decade, Q1 sales are the strongest ever in 2024.
Growth drivers
Mercedes-Benz reports that its robust sales growth comes from strong demand for its new as well as existing models. The company has a wide variety of volume models, something that helps drive growth. Moreover, a superior customer experience at the retail level contributes significantly to ensuring a positive response and high customer loyalty.
Primary growth drivers included Mercedes-Benz SUVs, with 55% contribution to overall sales in H1, 2024. Some of the SUVs that registered strong demand include the GLA, GLC, GLE and GLS SUVs. In the luxury sedan segment, most preferred options included the A-Class, C-Class, outgoing LWB E-Class and S-Class. Mercedes-Benz TEV portfolio with Maybach range also witnessed strong demand. In percentage terms, TEV growth rate was highest in H1 at 108%.
BEV sales gaining momentum
Mercedes-Benz BEVs have also contributed significantly to H1 sales numbers. BEV sales grew by 60% in H1, 2024, contributing around 5% to overall sales volumes. In the luxury segment, Mercedes-Benz BEV sales are the highest in H1, 2024 among all other luxury brands.
The company is following an aggressive BEV strategy in India, with plans to have a portfolio of 6 world-class products by the end of this year. There will be a BEV for each segment to ensure the best fit as per the customer’s specific needs and preferences. To support its BEV sales, Mercedes-Benz has been continuously expanding its charging infrastructure.
