German automaker Mercedes-Benz records double-digit growth in India
Category: #business  By Pranali Mehta  Date: 2022-07-12
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German automaker Mercedes-Benz records double-digit growth in India

German luxury and commercial automotive brand, Mercedes-Benz has announced that its Indian Branch has recorded its highest second-quarter sales with strong double-digit growth in the country.

As per credible sources, the growth in sales is attributed to new product launches and sustaining the demand for existing vehicles. The automaker sold 7,573 units between January and June, growing by around 56% compared to the same period last year.

Incidentally, the reported growth in Q2 was achieved despite the automaker facing challenges in the form of the continuing global supply issues, which resulted in constantly increasing the operating costs as well as leading to a longer waiting period.

Given all these challenges, the firm successfully ended Q2 2022 with the highest-ever order bank of 6000+ units.

Reports suggest that Mercedes-Benz India is planning to produce more cars in the future and lower the current waiting list for its products.

While commenting on the move, Mercedes-Benz India’s Managing Director & CEO, Martin Schwenk said that this highest-ever quarter result has been possible due to positive customer sentiments, a young product portfolio across several segments and the successful launch of its sales model ‘Retail of the Future’.

He continued that this sales record is more substantial against the constant issues triggered by supply chain challenges, local market developments, and global developments. The company is delighted to witness the unmatched aspiration and desire for Mercedes-Benz, leading to a constantly rising demand for attractive products across body types and segments, Martin added.

Commenting on the ongoing business challenges, Mercedes Benz said that it expects that the shortage of semiconductors will continue for some months. However, it is planning to put efforts into scaling up the production and delivering cars to the customers and lowering the waiting period.

Source Credit - https://economictimes.indiatimes.com/industry/auto/mercedes-benz-india-registers-strong-double-digit-growth-in-q2/articleshow/92801423.cms

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Pranali Mehta

Pranali Mehta    

Pranali Mehta boasts of over three years of experience as a content writer. Having completed her graduation in chemical engineering, she worked as safety & environment associate in a chemical company for a year. Harnessing her passion for writing however, Pranali deci...

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