The company clocked a solid Q1 2019 though it continues to face strong macro-economic headwinds in the form of rising interest rates, inflationary hikes, liquidity crunch, rising import costs etc.
In addition to this, Q1 2019 sales of Mercedes-Benz are in direct comparison with a substantially high base of Q1 2018 (Jan-Mar 2018: 4556 units).
Martin Schwenk, managing director & CEO, Mercedes-Benz India, commented, “Mercedes-Benz however is excited to retain its customers’ loyalty and sustain the 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. On our 25th year in India, we will continue to invest in new products and technologies, in retail network and digitization, to keep ourselves future ready for the foreseeable transition in the automotive segment. With some of the most exciting product introductions, novel customer oriented initiatives, market expansion and digitization efforts lined up in the second half of the year, we are confident of keeping our customers and brand enthusiasts delighted.”
The volume drivers for Mercedes-Benz India in the January-March period 2019 remained the Long Wheelbase E-Class Saloon as it continues its success run in the Indian market. The new C-Class and the GLC SUV also contributed to the sales volume.
The V-Class continues its sales success and the ‘Luxury MPV’ is on a waiting period in most markets. The AMG and the Dream Cars segment however remained the highest growing segment for Mercedes-Benz in Q1 2019, with more than 50% growth compared to Q1 2018.