Source: Gasgoo Author: Xing Yun
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According to foreign media reports, Mercedes-Benz India general manager Santosh Iyer said on January 8, the company will invest 24 million U.S. dollars in India this year, and release more than ten new models, focusing on high-priced models to meet the needs of India’s young affluent class.
Mercedes-Benz’s $24 million investment will be used for production and operation in the western Indian city of Pune, as well as the launch of new products. Iyer told reporters that Mercedes-Benz will launch more than ten new models in India, the world’s third-largest automotive market, with more than half of them being high-end models. This German luxury car manufacturer defines high-end models as cars priced above $180000.
Iyer said, “Currently, India’s customer base is undergoing changes, and its population structure is also changing. Young and promising consumers are eager to directly enter the high-end luxury goods market.”
Image source: Mercedes Benz
Iyer revealed that the consumers who buy Mercedes Benz cars in India are usually business owners, but since the outbreak of the COVID-19 epidemic, the number of buyers of paid professionals has increased by one fifth, accounting for 12% to 14% of the total number of buyers. He also added that the average age of Mercedes Benz customers in India is 38 years old.
Mercedes-Benz sales in India reached a record 17,408 units in 2023, a 10 % year-on-year improvement, with the sales boost attributed to strong demand from Indian consumers for its premium sedans and SUVs.
Iyer said that “mini metro” cities will be the “future growth engine” for Mercedes-Benz in India, and the company plans to open new service workshops in these cities, such as Udaipur, Amritsar and Agra.
On January 8, Mercedes-Benz launched the GLS 450 SUV in India, with a starting price of around $160,000 for the gasoline-powered version. Mercedes-Benz’s new car launches in India this year will also include three electric models, with electric cars now accounting for 4% of Mercedes-Benz’s Indian sales.
