Industry

Mercedes-Benz India sales up 22.5% in FY18

German luxury car maker Mercedes- Benz has reported 22.5 % growth in sales in India at 16,236 units in 2017-18, strengthening its leadership in the segment.

The company, which had sold 13,259 units in 2016-17, also said in the January-March period it sold 4,556 units as against 3,650 units in the year-ago period, up 24.8 %.

Mercedes-Benz India MD & CEO Roland Folger said: “2018 began on a positive note for the brand, though the spike in Q1 sales can be attributed to” advancing of customer buying due to the impending price correction, triggered primarily by the increase in basic customs duty.

In the Budget for 2018-19, finance minister Arun Jaitley had increased custom duty on CKD (completely knocked down) imports of motor vehicles, motor cars, motor cycles from 10 % to 15 %. Duty on specified parts/accessories of motor vehicles, motor cars, motor cycles was raised from 7.5 % to 15 %.

Folger said sales of Mercedes-Benz vehicles in India were driven by strong performance of the company’s mainstay models.

In 2017 the company sold 15,330 units as against 13,231 units in 2016 ahead of rivals Audi and BMW.

Folger, however, said it might be a challenge to sustain this momentum in the coming quarters although Mercedes-Benz is cautiously optimistic.

“As the luxury industry volumes are comparatively low, the focus should remain on helping the industry grow by creating demand,” he added.


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Printable version | Jun 18, 2021 7:36:55 AM | https://www.thehindu.com/business/Industry/mercedes-benz-india-sales-up-225-in-fy18/article23454960.ece

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