Mercedes Benz India reports 43 pc declines in Sales 2020

Jan 14 2021 08:23 AM
Mercedes Benz India reports 43 pc declines in Sales 2020

German auto major Mercedes Benz on Wednesday reported 43 percent decline in sales at 7,893 units in India in 2020, impacted by the coronavirus pandemic, which had led to the temporary shutdown of business but maintained its leadership position in the luxury car segment.

Mercedes-Benz India, which had sold 13,786 units in 2019, said its sales in the fourth quarter of 2020 grew 40 percent over the preceding quarter, continuing the strong sales recovery trend as India recovered from the COVID-19 induced disruptions.

To carry forward the momentum, the company has announced a Rs 400 crore investment last year on local manufacturing of products, plans to introduce 15 fresh products, including new models and facelifts of existing models, this year starting from the second quarter. "2020 remained an unprecedented year for the industry, and we are glad to make a strong sales recovery for us and our dealers. We are particularly satisfied with the strong Q4 performance registering a 40 percent growth over Q3, and continuing the sales momentum from the preceding quarters," Mercedes-Benz India Managing Director and CEO (chief executive officer) Martin Schwenk told reporters in a virtual conference.

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