Mercedes-Benz Aims for Double-Digit Growth in 2024 with New Model Launches

Mercedes-Benz, the prestigious German luxury automaker, has expressed strong confidence in achieving double-digit growth for the current calendar year. The company anticipates sustained demand throughout the upcoming festive season, reflecting the positive trends experienced last year.

New Models Launched: Mercedes-AMG GLC 43 4MATIC Coup and CLE 300 Cabriolet AMG Line

At the recent launch event, Mercedes-Benz India Managing Director and CEO Santosh Iyer announced the introduction of two new high-end models: the Mercedes-AMG GLC 43 4MATIC Coup and the CLE 300 Cabriolet AMG Line. Priced at Rs 1.105 crore and Rs 1.10 crore respectively, these new additions bolster Mercedes-Benz’s top-end product range.

Iyer highlighted the company's growth trajectory, noting a 9 percent increase in the first half of 2024. Despite the second quarter being typically slow due to seasonal factors and elections, the third quarter is showing promising signs with increased bookings. “The market is there. We are confident of a double-digit growth to end the year. And in that sense it should be our best year again,” Iyer said.

Expansion in Top-End Segment and Future Launches

Mercedes-Benz’s top-end segment has witnessed a 12 percent growth, outperforming the overall 9 percent increase. The company’s core luxury segment, which includes models like the E-Class, C-Class, GLC, and GLE, constitutes 60 percent of its total portfolio in India. Iyer also mentioned the upcoming launch of the EQS Maybach SUV on September 5, adding to the brand's diverse offerings.

The luxury carmaker is also seeing promising trends for the festive season. “We have already started getting the lead and inquiries in the system, so there is a positivity to buy and consume luxury cars. So I think it should be as good as it was last year,” Iyer stated.

Record-Breaking Sales and Future Prospects

Mercedes-Benz India achieved its highest-ever half-yearly sales in 2024, with 9,262 units sold in the first half of the year. This represents a 9 percent increase from the 8,528 units sold in the same period of 2023. The company’s battery electric vehicle (BEV) portfolio also saw significant growth, expanding by 60 percent and making up 5 percent of total sales volumes.

Conclusion

Mercedes-Benz India is poised for a strong finish to 2024, driven by the recent introduction of two new high-end models and robust sales performance. With a notable 9 percent growth in the first half of the year and expectations for double-digit growth by year-end, the company demonstrates its resilience and adaptability in a competitive market.

The launch of the Mercedes-AMG GLC 43 4MATIC Coup and CLE 300 Cabriolet AMG Line, alongside the upcoming EQS Maybach SUV, further solidifies Mercedes-Benz’s commitment to expanding its top-end portfolio. The promising trends in bookings and the anticipated festive season demand underscore the brand’s optimism for continued success. Mercedes-Benz’s strategic focus on innovation and market demand positions it well to maintain its leadership in the luxury automotive segment.