Observing the lukewarm response to electrification, one of the leading automobile companies, Mercedes-Benz has also scaled back its global EV investments. But for Indians here is great news the company is all set to launch 7 brand new cars in 2024 in India. 3 cars out of 7 will be fully electric and likely in the TEV segment.

When it comes to having the most number of billionaires then India ranks third in the world. According to media reports, India is 5th largest economy in the world in 2024, attracting big corporates from all over India from all segments.

Tipping the hat to India’s creme-de-la-creme for insinuating Mercedes-Benz to bring and expand a fairly new top-end vehicle segment which comprises 1 of every 4 Mercedes sold in India today. The pricing for this segment starts at INR 1.77 crore with the S-Class limousine.

The most recent addition to this elite 'gentry' is the new Maybach GLS 600 facelift launched in India starting at INR 3.35 crore (ex-showroom) and the AMG S 63 Performance at INR 3.30 crore.

The total penetration of Mercedes’ top-end vehicles is 25% while 60% of the company's sales come from what they call, the middle section in the portfolio. The entry-luxury market makes just 15% of its total sales in India. For the TEV segment, Mercedes recorded a growth of 54% on that particular segment over the first half year.

Lance Bennett, Vice President of Sales & Marketing at Mercedes-Benz India, said that “the company expects to maintain double-digit growth by the end of the year. The German luxury carmaker clocked best-ever quarterly sales of 5,412 units in Q1 CY24 and also reported its highest-ever monthly sales in March 2024, as well as registered a 10% year-on-year growth in FY24 volumes”.

“In the first quarter, I think it was 130% growth. We went from 4% penetration the year before to 6% penetration. Pretty happy with the growth that we received year on year. That's with only three models as well, with the plan to double that portfolio, add another three in the next six months or balance of the year and we'll have a much greater opportunity to transition. We are very happy with customers transitioning at their own pace as well, we are fully supporting it with new models coming to market. We're educating consumers, suggesting that they test drive and enjoy an electric vehicle. But, you know, at the end of the day, if they still prefer an internal combustion engine, that's okay with us, he said.”