Summary:
Mercedes-Benz India achieved a record-breaking year in 2024, selling 19,565 vehicles and marking a 12.4% year-on-year (YoY) growth. The company also experienced an impressive 145% surge in Mercedes-Maybach sales, with 500 units sold in 2024, contributing to a cumulative total of 1,500 units. This growth positions India as a potential entrant into the top five global markets for Mercedes-Maybach, according to Mr. Daniel Lescow, Head of Mercedes-Maybach at MercedesBenz AG. Currently, India ranks among the top 10 Maybach markets, fuelled by increasing demand for personalised luxury vehicles. As part of its luxury portfolio, the company introduced the Mercedes-Maybach SL 680 Monogram Series, a two-seater convertible priced at Rs. 4.2 crore (US$ 484,947), with deliveries expected in Q1 FY26.
To meet rising demand, Mercedes-Maybach inaugurated its first Maybach Lounge in Hyderabad in September 2024, followed by the opening of a Maybach Icons of Luxury store in Bengaluru in January 2025. Plans are underway to expand further with outlets in Mumbai and Delhi. Vehicles priced above Rs. 1 crore (US$ 115,463) now account for 25% of Mercedes-Benz India's total sales. The overall luxury car market in India surpassed 51,000 units for the first time in 2024, with Mercedes-Benz planning eight new launches in 2025, including two electric vehicles (EVs). Notably, the company introduced 14 models in 2024, with EV sales growing by 94%, contributing 6% to the total sales volume.
Source: IBEF
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