Mercedes-Benz India has revealed its retail sales figures for the 2024 calendar year, achieving a record annual sales total of 19,565 units. The Stuttgart-based luxury automobile manufacturer surpassed BMW once more, maintaining its status as the 'best-selling luxury carmaker' in India, while the Bavarian company recorded sales of 15,012 units (excluding MINI sales) during the same timeframe.

Consistent Growth In All Quarters

Mercedes-Benz India experienced a sales increase of 12.4 per cent in 2024, in comparison to the 17,408 units sold in the calendar year 2023. The company demonstrated steady growth across all four quarters, reinforcing its annual performance. Notably, sales during the latter half of the year (from July to December) rose by 16 per cent year-on-year, despite encountering market challenges and macroeconomic obstacles, as reported by the company.

Top-End Vehicle (TEV) Sales Grew Fastest

Mercedes has disclosed that its Top-End Vehicle (TEV) sales, which are priced above ₹1 crore, experienced the most significant growth, achieving a 30 per cent increase year-to-date for models such as the Maybach S-Class, GLS SUV, EQS 580, among others. In 2024, one out of every four Mercedes-Benz vehicles sold in India was classified as a TEV.

Additionally, Mercedes-Benz India reached a significant milestone of 200,000 sales in 2024 since its inception in 1996. The initial 50,000 units took two decades to sell, while the subsequent 50,000 units were achieved in just five years (2014-2018). Remarkably, the final 100,000 units were sold in a mere six years, from 2019 to 2024.

EV Sales Grew By 94%

Electric vehicles have emerged as significant contributors to the overall sales figures of the German automaker. In the previous year, EVs accounted for six per cent of total sales, and the segment experienced an impressive 94 per cent growth year-to-date in 2024 compared to the prior year. The brand has broadened its offerings with the introduction of new models such as the EQA, EQS SUV, and Maybach EQS SUV in 2024. Furthermore, Mercedes-Benz launched a total of 14 vehicles this year, including nine premium models, thereby solidifying its leading position in the market. 

In 2024, Mercedes-Benz Financial Services played a pivotal role by financing over half of the vehicles sold in the country. The availability of more accessible financial solutions significantly enhanced the purchasing experience for customers. The luxury automaker announced that its financial services division achieved a remarkable milestone, with its portfolio surpassing ₹10,000 crores in India. Notably, approximately 80 per cent of customers chose to obtain insurance through the company’s financial services.

Roadmap for 2025

Mercedes-Benz is implementing a new strategic initiative in 2025, commencing its product launches for the year with the introduction of the new EQS SUV variants and the entirely new G 580 electric SUV, which incorporates an electric powertrain into the renowned G-Wagen. The luxury automobile manufacturer plans to unveil a total of eight new models in 2025, including the Mercedes-Maybach EQS SUV ‘Night Series,’ which is set to debut at the Bharat Mobility Global Expo next week.

Watch: Mercedes G 580 EQ launched in India at ₹3 crore. Claimed range of around 420 km. #shorts

The automobile manufacturer intends to broaden its presence by establishing 20 additional touchpoints in 2025, targeting emerging markets such as Agra, Kanpur, Jammu, and Patna, among others. The company has announced the conversion of 40 outlets into the new ‘MAR20X’ global luxury retail format and plans to continue this initiative in the current year. Mercedes-Benz India’s franchise partners are set to invest more than ₹450 crore over the next three years to upgrade the existing dealerships. Furthermore, the automaker will implement over 100 additional DC charging stations throughout its network to support electric vehicle customers.

Read Also: Hyundai Inster micro EV prepped for Japan. Will it come to India?

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