Pune: Mercedes-Benz is optimistic about achieving double-digit growth in 2024, bolstered by strong performance and the anticipated demand surge during the upcoming festive season. At the launch of two new high-end models, the Mercedes-AMG GLC 43 4MATIC Coupé and the CLE 300 Cabriolet AMG Line, Mercedes-Benz India Managing Director and CEO Santosh Iyer expressed confidence in meeting their growth targets.

The German luxury automaker, which has already reported a 9% sales increase in the first half of 2024, anticipates further growth. The company plans to launch an electric version of the Maybach in September, reflecting its expanding electric vehicle (EV) portfolio.

The newly introduced Mercedes-AMG GLC 43 4MATIC Coupé, priced at Rs 1.105 crore, and the CLE 300 Cabriolet AMG Line, costing Rs 1.10 crore, are expected to enhance the appeal of the brand’s top-end segment. Iyer highlighted that these premium models contribute significantly to customer loyalty and market desirability.

Despite a dip in the second quarter due to election season, Mercedes-Benz is seeing a resurgence in bookings for the third quarter. Iyer stated, "We are seeing a positive trend in the market and are confident that this year will end with double-digit growth, making it one of our best years."

The top-end segment, which includes high-performance and luxury models, has grown by 12%, surpassing the overall growth rate of 9%. Mercedes-Benz's core luxury segment—comprising the E-class, C-class, GLC, and GLE—accounts for 60% of their sales in India. The upcoming launch of the new E-class is expected to further boost this segment.

Additionally, the company reported a 14% increase in total passenger vehicle sales year-on-year for July, indicating a rebound in market momentum following the election period. Iyer noted that inquiries and leads for luxury vehicles are already strong for the festive season, suggesting that demand will match or exceed last year's levels.

In the first half of 2024, Mercedes-Benz India achieved its highest-ever half-yearly sales with 9,262 units sold, up from 8,528 units in the same period in 2023. The company’s battery electric vehicle (BEV) portfolio saw a remarkable 60% growth, representing 5% of total sales volumes.

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