Mercedes-Benz India to focus on top end of luxury car market, eyes double-digit growth in 2023

Luxury carmaker achieves 41% growth in 2022

Mercedes-Benz India, having retained its leadership position in the country’s luxury car segment for the eighth consecutive year, said it would now focus on the top end of the luxury car market in 2023 to solidify its position.

The company also announced plans to introduce 10 new products including some electric vehicles in 2023.

Mercedes-Benz India on Friday introduced Mercedes-AMG E 53 4MATIC+ Cabriolet, the first Cabriolet in an AMG Avatar in India, saying the new models were aligned with the company’s 2023 motto: ‘DESIRE for the Extraordinaire’

“We will focus on the top end of the luxury car market where demand is high, said Santosh Iyer, managing director and CEO, Mercedes-Benz India, in an interview. “We are playing where the growth is. We are targeting double-digit growth in 2023 and we want to surpass the sales number achieved in 2022,” he added.

In calendar year 2022 the company delivered 15,822 cars to customers registering 41% sales growth compared with the previous year. Of these, about 21% were top end luxury cars.

“2022 has been our ‘Best Year Ever’, as more customers opted for a Mercedes-Benz than ever before. This stupendous growth has been on the back of new products, best-ever production year despite continuous supply constraints, success of Retail of the Future, support of our franchise partners and the trust of our discerning customers,” Mr. Iyer said.

“Besides sales growth, we made an indelible mark on India’s electrification road map with the local assembly of the EQS 580 4MATIC and expansion of our fast-charging infrastructure. 2022 has laid a strong foundation for our new business model, our EV roadmap and reiterates our strategy of pursuing sustainable profitable growth, while making the brand more desirable for our customers,” he said.