Despite slower sales, Mercedes maintains top slot

The manufacturer says that it has been facing challenges in the form of rising interest rates, inflationary hikes, a liquidity crunch hurting finance availability, rising import costs among others.
Despite slower sales, Mercedes maintains top slot
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NEW DELHI:  German luxury carmaker Mercedes Benz India has managed to sell more cars in India than its peers during the January-March 2019 period, even as it registered a decline of around 15 per cent in sales. According to data released, Mercedes Benz sold 3,885 units in the luxury car category during the first quarter of calendar year 2019 (Q1CY2019) compared to 4,556 units sold in the same quarter last year. 

The manufacturer says that it has been facing challenges in the form of rising interest rates, inflationary hikes, a liquidity crunch hurting finance availability, rising import costs among others. “We are satisfied with our sustained sales performance despite facing strong macro-economic headwinds. Mercedes-Benz, however, is excited to retain its customers’ loyalty and sustain market leadership. Also as a fundamentally strong brand, we remain bullish on the mid to long term prospect of the dynamic Indian market, which we believe has immense potential to grow,” Martin Schwenk, managing director and chief executive officer, Mercedes-Benz India said.

Mercedes saw its best sales during the period coming from the Long Wheelbase E-Class and the C-Class. Rival carmaker BMW, however, registered its highest-ever first quarter sales of 2,982 units in India during the same period. Sales of the BMW brand models grew by 19 per cent to 2,822 units during January and March. 

BMW’s MINI brand, meanwhile, sold 160 units during the period (up 18 per cent compared to the previous year). “Closing 2018 with the highest sales ever, the momentum has been successfully carried forward into 2019 by registering the best Q1 sales till date,” BMW Group India President (Act) Hans-Christian Baertels said, adding, “We are confident that the growth strategy for BMW, MINI and BMW Motorrad will yield even higher results in the coming months and we will continue to grow the luxury market”. The company’s 5 Series and 6 Series Gran Turismo contributed strongly to its performance during the quarter.

Audi, the third of the three major German rivals for the luxury car market, is yet to announce its sales figures. In calendar year 2018, Audi India had reported an 18 per cent decline in total sales in India to 6,463 units.

Last week, Swedish luxury carmaker Volvo Cars India also declared that it has sold a total of 2,687 units in financial year 2018-19, registering a growth of 25 per cent over the previous fiscal. “We had a strong performance in the last financial year because of greater customer demand for our award-winning products and new dealer openings,” Volvo Cars India managing director Charles Frump said.

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