Mercedes-Benz hopes to log double digit growth in 2015

Luxury car maker Mercedes-Benz India Pvt Ltd hopes to close 2015 with double digit growth while expanding its network and launching five more new models, said a top company official.

"During the first half of the current year, we have sold around 6,600 units. Normally sales during the second half of the year will be better than the first half," managing director Eberhard Kern told reporters here on Wednesday.

He was here to inaugurate two sales outlets and a service centre owned by VST Titanium Motors.

According to Kern, the company, following the 15 in 15 policy - 15 new models and 15 new outlets this year, has already launched 10 new models and five more are to come.

He said nine new outlets have been opened this year and six more are to come.

With 78 outlets in 39 cities the Mercedes-Benz brand has the densest network for a luxury car brand in India, said Kern, adding that south is a major market for Mercedes-Benz India with nearly one third of its total sales coming from this region.

"The sales growth in south is higher," he said.

Rejecting the notion that Mercedes-Benz India gets bulk of its sales from entry level models, Kern said two thirds of the company's business is from upper end models.

He said the luxury car segment is expected to log a total volume of around 38,000 units in 2015 as against 34,000 units sold in 2014.

He said the total volume is around 1.5 percent of the overall car market in the country but is higher than some of the Asian markets.

Queried about pre-owned car business, Kern said the company hopes to do a volume of around 3,000 units this year.

"Out of five cars sold one is pre-owned," he said.