Mercedes-Benz is celebrating a significant milestone in India, reporting a remarkable 10% surge in sales, totaling 17,408 units in 2023. This achievement not only signifies the German automaker's dominance in the luxury car market but also mirrors a growing trend in India's economic prosperity, with a distinct emphasis on luxury expenditures.

As the leader in the luxury car segment, Mercedes-Benz has experienced unprecedented growth, surpassing its previous all-time high of 15,822 units. The brand achieved its best-ever H2 and Q4 sales in India, maintaining its leadership position for the ninth consecutive year.

Santosh Iyer, MD & CEO of Mercedes-Benz India, highlights the evolving customer profile, noting a substantial increase in buyers from salaried backgrounds and a noteworthy 50% rise in female buyers compared to pre-COVID times. This shift reflects changing demographics and the increasing aspirations among young achievers.

Mercedes-Benz identifies mini-metros as future growth drivers, underscoring its strategic vision. The luxury carmaker observes a surge in SUV body styles, constituting 55% of its portfolio, with popular models like the new GLC SUV driving increased adoption.

A notable revelation is the significant contribution from Top End Vehicles (TEVs), constituting nearly 25% of sales. The average age of buyers for high-end vehicles like the S-Class is a mere 38 years, showcasing the appeal to a younger demographic.

Emphasizing its commitment to the electric car segment, Mercedes-Benz witnesses a 3X growth in the Battery Electric Vehicle (BEV) portfolio, contributing 4% to CY 2023 sales. The company plans to introduce three more electric models, acknowledging the gradual adoption of EVs among Indian customers.

Buoyed by this success, Mercedes-Benz India has launched the facelifted version of the GLS SUV, allocating Rs 200 crore for new products, production enhancement, and digitization of manufacturing processes. Despite challenges in supply and demand, the company expresses optimism, targeting double-digit growth in 2024.

This achievement stands as a testament to India's rising economic prosperity, evident in the discernible trend toward luxury spending. The growing preference for premium vehicles and the forward-looking embrace of electric cars exemplify the evolving consumer landscape in the country.