Luxury carmaker Mercedes-Benz India said it was cautiously optimistic about growth prospects in India due to changing trend, said a top official.
“The slowdown for us is over,” said Martin Schwenk, MD & CEO, Mercedes-Benz India.
To a question, he said a combination of several factors such as recently announced government policies combined with the festive season are likely to boost customer sentiment.
“We are cautiously optimistic. We have seen the trend changing now, climbing upward a little bit again for our brand,” he said.
Asserting that the sales numbers for Mercedes Benz were on the rise since September, he said during the month of September, Mercedes sold 29% more than that of August 2019. In third quarter, the company reported 25% more sales than Q2 this year.
“With a strong product line-up for the next quarter, we are confident of maintaining this growth momentum by leveraging the up beat customer sentiment,” he said.
Mr. Schwenk said it might not be possible to surpass the last year sales figure as they were down by 16% in the first nine months.
“We hope sales in the last quarter would be similar that of last year. With headwinds facing, I will be a little better than the industry. Overall, we could keep our market leadership and market share,” he said.
Mr. Schwenk, who was in the city to open the new showroom of Sundaram Motors, said many models were coming up and more products would be introduced during the year.
Sharath Vijayaraghavan, executive director, Sundaram Motors said luxury cars had a huge potential in India.
Recalling the firm’s successful association with Mercedes Benz for the last 18 years, he said they were planning one more showroom in South Chennai.
