Mercedes India third quarter gross sales posts sturdy restoration over Q2; y-o-y nonetheless down

NEW DELHI: The posh market is gaining in power on festive fervour. Mercedes-Benz India, the nation’s largest luxurious carmaker, reported a virtually four-fold soar in retail gross sales within the July-September quarter on a sequential foundation, with gross sales at 2,058 models towards 563 models within the second quarter.
Gross sales on a year-on-year (y-o-y) foundation, nonetheless, are but to recuperate and the volumes are down 39% when the third-quarter of this 12 months is in comparison with the identical interval of 2019. The corporate had offered 3,354 models in Q3 final 12 months.
Mercedes mentioned that the “restoration” in numbers on a sequential foundation reveals that demand is coming again, which is a optimistic issue because the build-up is simply forward of the festive season of Navratri and Diwali.
“Mercedes-Benz India clocked the gross sales regardless of dealing with ongoing market challenges that are influenced strongly by the Covid-19 pandemic. The September 2020 gross sales underlines early indicators of a gradual restoration, influenced by a rejuvenated product portfolio, which is led by the brand new SUVs,” the corporate mentioned, including that almost 48% of the volumes got here from off-roaders akin to GLC and GLS.
The auto business is underneath super strain this fiscal as a result of coronavirus induced slowdown which has impacted the broader financial system and has additionally depressed the job and salary-increment outlook. The auto business fell practically 18% in 2019-20, and is forecasting a full-year decline this 12 months too as they misplaced gross sales in early- and middle-part of the 12 months attributable to corona restrictions and lockdowns.
Nevertheless, firms have been driving in new fashions and schemes to excite the consumers, which has seen business volumes perk up in August and September, holding out hope for the makers.
“We’re assured that the upcoming festive season will ship additional momentum… We stay optimistic for the fourth quarter as the present demand state of affairs and the suggestions of the purchasers for our merchandise could be very optimistic,” Martin Schwenk, MD & CEO of Mercedes-Benz India, mentioned.
Mercedes not too long ago drove within the electrical SUV, the EQC, in India, and can also be planning to introduce the A-Class entry sedan in direction of the top of the 12 months.

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