Q: How has been the primary quarter of 2023 for Mercedes-Benz India?
A: Mercedes-Benz delivered its ‘Finest ever Q1’ with 4697 new vehicles bought in Q1 2023, a progress of 17%. This underlines the robust desirability of the model amongst discerning Indian luxurious automotive patrons. The sturdy progress of 107% within the Prime Finish automobile (TEV) section, and the elevated desire for our EVs replicate the altering profile of Mercedes-Benz prospects in India. They like to mix sustainability and luxurious on the highest degree.
Q: What sort of progress do you see within the subsequent ninth months?
A: With this gross sales momentum, we proceed our product offensive, introduce new initiatives and stay dedicated to enhancing our buyer expertise. Our focus is on lowering the ready interval for our merchandise and making certain our prospects get their vehicles as early as doable. We count on double-digit progress for MB India in 2023, nevertheless, we’re cautiously optimistic.
Q: Inform us about your best-selling fashions and their contribution to the entire volumes.
A: The E-Class LWB & GLS remained one of many highest-selling fashions for Mercedes-Benz in Q1 2023. When it comes to sedans, E-Class LWB and C-Class collectively grew by 27% and comprise 30% of Q1 2023 volumes.
Our Prime Finish Automobile portfolio (comprising GLS, S-Class, Maybach & AMGs) grew by an excellent 107% in Q1 2023 underlining the robust affinity for this high-end section.
Q: Please share a break-up of SUVs versus Sedans within the whole quantity of Mercedes-Benz India for the final 3-5 years.
A: Our Sedan and SUVs portfolio has been at par during the last 3-5 years. Nevertheless, we’re seeing an excellent traction for our sedans A-Class, C-Class, E-Class and the S-Class on the top-end. With the introduction of the New GLC in Q3, we count on to see the SUV volumes choosing up considerably.
Q. What technique Mercedes-Benz India is implementing to onboard first-time luxurious automotive patrons?
A: First-time patrons of luxurious vehicles consider the worth of buy as a key decision-making issue. To assist their aspirations, Mercedes-Benz Monetary Companies supplies customizable and versatile financing choices like Star Agility+, which assures buyback worth throughout ICE and EV.
Furthermore, options akin to decrease month-to-month funds, versatile end-of-term choices, digital processes, and a variety of fee plans to swimsuit totally different budgets and preferences are additionally supplied to encourage prospects to pursue their dream of proudly owning a Mercedes-Benz.
As soon as the client makes this resolution, they’re supported with a seamless, clear onboarding journey by way of our direct-to-customer omnichannel retail mannequin Retail of the Future.
Their hassle-free possession is equally assured with the industry-best 8 years engine and transmission guarantee (A-Class, GLA & GLB) and enticing Service choices, which drive the worth of possession.
Q. Are you able to share the quantity break-up between City and Tier-I, and II cities? How have Tier-I, II cities grown previously few years?
A: Whereas the metro cities proceed to drive demand for Mercedes-Benz India, we’re witnessing gradual enhance in curiosity from rising markets. That is led by the impetus to infrastructure, improved roadways and desire for private mobility after the pandemic.
When it comes to EVs, the client consciousness and curiosity ranges in T2 and T3 markets is at par with giant metros. For patrons in these smaller markets, it’s handy for them to have charging at house, as they personal unbiased homes. We have now seen cities like Cuttack, Karnal, Calicut and different markets warming as much as luxurious EVs.
Q. Do you determine any new set of consumers who are actually shopping for luxurious vehicles in India? What sort of buyer developments have you ever noticed previously few years within the luxurious house?
A: Previously few years, we’ve got witnessed aspiration driving younger prospects choosing luxurious services. Right this moment, throughout the Mercedes-Benz product portfolio, the client set is getting youthful.
In reality, even for the flagship Mercedes-Benz S-Class, the common buyer age has come all the way down to 38, and for C-Class it’s 35 years. Just lately, a brand new set of ‘salaried workers’ and ‘professionals’ are choosing luxurious and premium automobiles. Equally, the variety of girls prospects throughout totally different pockets of the nation is quickly growing once more attributable to desire for private mobility, increased disposable earnings and improved infrastructure appropriate for street travels.
Amongst these new buyer units, we see excessive private aspiration pushed by model consciousness.
Q. How has the response to electrical automobiles been within the luxurious automotive market? What’s the present contribution of EVs to your product portfolio? What are your targets for the subsequent three years?
A: Mercedes-Benz has a transparent lead within the luxurious EV market in India, being the primary luxurious OEM to regionally produce high-end EVs in India, backed by the widest community of Extremely-Quick chargers, having best-in-class battery guarantee and likewise greatest Residual Worth.
The lengthy ready listing for the EQB and EQS underlines the overwhelming buyer curiosity for these EVs. Presently, we’re striving to scale back the ready interval of those EVs which ranges from 5 month for an EQB to three months for an EQS.
We have now a really aggressive roadmap for the EVs in India and can be launching 4 new EVs in subsequent 8-16 months from our international portfolio. Our goal is to have 25% of our gross sales from EVs by 2027.
Q. Please share your enlargement plans when it comes to your attain and new product launches.
A: Our core technique is to introduce the ‘most fascinating’ merchandise for the Indian prospects. We have now a gorgeous and fascinating portfolio in India and we are going to proceed to boost it. MB India already launched 2 TEVs in 2023 and we’ve got 8 extra merchandise lined up for India from the worldwide portfolio.