By 2027, Mercedes-Benz foresees India becoming its third largest global market

Mercedes-Benz is set to launch 12 new cars in India, including three battery electric vehicles, to boost sales in the country, aiming to become its third-largest global market by 2027, reported PTI. The luxury car market in India has been witnessing significant growth, especially among young car buyers preferring luxury cars over mass-market models.

Currently ranked as the fifth-largest market for Mercedes-Benz, India is expected to climb up the ranks in the company’s ‘Region Overseas’ strategy, which includes 118 countries. The car manufacturer anticipates narrowing the sales gap between Turkey and India, with strong demand for luxury cars in the country. Mercedes-Benz is optimistic about the Indian market’s development in the next two to three years.

Sagree Sardien, Head of Region Overseas at Mercedes-Benz AG, highlighted India’s strategic importance for the brand, with high-end models witnessing double-digit growth in recent years. Mercedes-Benz India reported record sales in 2023 and plans to launch 12 new models this year, including three electric vehicles. The company aims to expand its sales network beyond major cities to tap into smaller markets across India.

With the luxury car market in India projected to reach around 47,000 units per annum, Mercedes-Benz is actively focusing on electric vehicles. The company has already introduced electric cars like EQE and EQS, leading the luxury electric car segment. Sardien is optimistic about registering double-digit growth in the electric vehicle segment, emphasizing the brand’s commitment to meeting evolving customer preferences and market conditions.