German auto major Mercedes-Benz plans to enter the city bus market in India. The company said this segment offers huge opportunity and it will be a major focus in India. The company is also betting big on the luxury bus segment, expected to grow by 20 per cent, year-on-year.
Speaking to reporters after handing over the keys for multi-axle coaches to a local firm today, Wilfried Aulbur, managing director and chief executive officer, Mercedes-Benz India Pvt Ltd, said: “The company is planning to enter the city bus market, which offers huge potential.”
While declining to give any time frame for the proposed foray, he said “Soon, we will come out with an announcement.”
City buses refer to the low-floor buses, sold at a price of around Rs 65 lakh each, where currently major players, including Ashok Leyland, Tata Motors and Volvo, are competing.
The German luxury vehicle maker, which has 13 per cent market share globally in the luxury bus market, says India is an important market for the company to sell its luxury buses. The company introduced 2-axle coaches in 2008 and 3-axle coaches in the beginning of 2010 and has a current order book of 43 buses here.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.